Many observers were sceptical when a few years ago the IMF embarked on a mission to respond to the "cries of the poor", in the words of its then head Michel Camdessus
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Brazil renews "unnecessary" IMF agreement despite opposition
17 November 2003
Brazil and the IMF announced they would renew a financial arrangement at the end of the year, sparking new doubts about the methods and motives of Lula's government. The news came shortly after Rede Brasil, a network of Brazilian NGOs and social movements, urged the government not to sign.