Fábio Calvetti
Reporter - Agência Brasil

São Paulo - The Federation of Industries of the State of São Paulo (Fiesp) considered the government's decision not to renew the agreement with the World Monetary Fund (IMF) an "important step towards the consolidation of its image as a secure destination for foreign investment." This affirmation is part of a Fiesp press release, which contains declarations made by the president of the organization, Paulo Skaf.

"We are aware of the excessive conservatism which normally guides the decisions of Lula's economic team. This trait was surely evident in this bold decision," Skaf affirms in the note.

In the Fiesp president's view, the decision not to renew the agreement with the IMF represented the country's hospital discharge. "Brazil was undergoing hospital treatment, under the care of 'Doctor' IMF, whose prescriptions included tough targets for the patient to meet in order to achieve complete recovery. We hope that with the hospital discharge now obtained and the country returning to the care of its own physician, 'Doctor' Paloccci, an even more strenuous treatment is not determined and that he steers the country in the direction of a healthy life of growth," says Skaf.

Translation: David Silberstein