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WB/IMF roles

News

Brazil IMF rep blunder over poverty programme

15 April 2000

In February, government and opposition parties called for the Brazilian IMF representative, Lorenzo Perez, to leave the country and accused the IMF of meddling in its domestic affairs. Perez angered the government for criticising plans to spend £2.25bn annually on a 10-year anti-poverty programme. Perez had commented that “Brazil already spends a significant amount of money on social programs,” “This money has to be used more effectively.” Later he retracted his comments saying that on reflection the plan would not harm the Brazilian economy.

The government is planning additional spending on education, health and infrastructure; the money for which will come from privatization schemes and luxury taxes.