Word: imf
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Dates: during 2000-2009
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...other candidates - and certainly better than most international investors. "If international economists were always right, all we would need is to hire 10 Nobel Prize (winners) and let them run the country," he said in a recent interview. Lula has also pointedly declared his intention to reject IMF demands on inflation targets if he believes those hamper the growth of Brazil's economy...
...Lula quite the bogeyman that he seems to be in the minds of Wall Street? And would he, as president, challenge the IMF, reverse free market reforms, and cut ties with the international investing community...
...shares directly from investment banks. The Good, The Bad, The Ugly The International Monetary Fund still believes the global economy is recovering, but it added to the gloom shaking markets when it released its World Economic Outlook with a host of downward revisions for expected economic growth. The IMF lowered its prediction for global growth in 2003 from 4% to 3.7%, cut the E.U.'s forecast increase from 2.9% to 2.3% and slashed the U.S. outlook nearly a point, to 2.6%. A Brand That Won't Quit At least there's still a hot market for one commodity: schadenfreude...
Once O'Neill saw South America's financial chaos up close during that quick tour of battered Brazil, Uruguay and Argentina, he wasn't so flip. Before he reached home, the Bush Administration surprised everyone by signing off on a $30 billion International Monetary Fund (IMF) rescue loan for Brazil, which began to restore stability. O'Neill gave tiny Uruguay $1.5 billion from the U.S. Treasury to stop a run on that country's banks. Now even profligate, bankrupt Argentina, which has sunk into bottomless recession through corruption and misguided policies, hopes to get in on the aid, though...
...clear that if he becomes President, Bush's hemispheric trade plan may have to wait beyond its current 2005 deadline. "Latin America," he says, "has to quit treating the U.S. as an empire." Though Lula reluctantly said he would live up to the rather stringent terms of the IMF's loan if he is elected on Oct. 6, neither he nor second-ranked Ciro Gomes, the candidate of the Workers Front coalition, is regarded with much enthusiasm in Washington. A former metalworker known for probity, Lula insists he won't nix the capitalist reforms but will make them fairer--starting...