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Mantega says Brazil will support IMF’s plan to help Greece
Criado em 01/08/13 18h21
e atualizado em 02/08/13 11h28
Por Luciene Cruz
Edição:s
Fonte:Agência Brasil
Brasília – On Thursday (August 1) minister of Treasury, Guido Mantega, declared that Brazil will support the IMF’s plan to help Greece. In a telephone conversation with IMF’s managing director, Christine Lagarde, Mantega said that the IMF’s executive director, the Brazilian Paulo Nogueira Batista Jr., who represents Brazil and ten other countries in Latin America and the Caribbean in that organization, was wrong in denying support for the IMF assistance plan and that he did so without the ministry’s permission.
This week, the voting block represented by the Braziliian refused to support IMF’s decision to keep helping Greece financially, mentioning default risks. Paulo Nogueira declared on Wednesday (July 31) that the decision was justified as follows: “Greece’s latest developments confirm some of our worst fears.”
Paulo Nogueira Batista Jr. pointed out that “the implementation (of the recovery measures) has not been carried out satisfactorily in most fields and that growth expectations and the sustainability of the debt are exceedingly optimistic.”
According to the Ministry of Treasury’s press office, the vote “was cast without consulting Mantega, and without his permission”. Paulo Nogueira Batista Jr. has been called back to Brazil to clarify the incident.
On Monday, the IMF approved committing US$ 1.7 billion as part of an economic reform program which also includes grants from the European Union and the European Central Bank – the three organizations are known as the "Troika." The new credit raises the total amount of the IMF loans to Greece to US$ 37.6 billion.
Editors: José Romildo / Olga Bardawil
Translators: Fabrício Ferreira / Olga Bardawil / Allen Bennett
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