Brasília - The head of the International Monetary Fund mission which is presently visiting Brazil, Charles Collyns, declared that he is "strongly impressed" by the country's economy which is growing at a steady rate. He also said he was satisfied with the information he received from the president of the Central Bank, Henrique Meirelles, concerning monetary and economic policy.. Collyns called the policies "prudent," and said he was pleased with them.

The IMF mission is in Brazil for a ninth evaluation of a US$14 billion standby loan agreement which dates from December 2003. That agreement runs to next March. As usual, the mission will submit a report to the IMF board. If the report is accepted Brazil will have withdrawal rights totalling US$1.4 billion. However, the Brazilian government has already said it does not intend to withdraw the funds because it sees the December 2003 agreement as a preventive measure.

Agência Brasil
Reporter: Edla Lula
Translator: Allen Bennett
11/5/2004