Brasília - On Friday the International Monetary Fund mission visiting Brazil for a third revision of the almost US$15 billion preventive loan Brazil negotiated at the end of last year concluded its work. The head of the mission, Charles Collyns, has said he will recommend approval. That will give Brazil the right to withdraw funds totalling US$1.3 billion. However, both president Luiz Inacio Lula da Silva and the minister of Finance, Antonio Palocci, have said the country will not touch the money. They have also said that Brazil does not intend to renew the agreement when it expires in 2005.

Agência Brasil
Translator: Allen Bennett
08/02/2004