IMF places much confidence in Brazil

Brazil is drawing down a $9.3bn loan from the International Monetary Fund (IMF), the largest chunk of change ever advanced by the fund to one of its client countries. The money is an instalment on a total loan package of $30bn to help the country make payments on $400bn of debt. The head of the IMF's mission to Brazil, Jorge Marquez- Ruarte, said on 13 June the $9.3bn was released following a review that found Brazil's compliance with the terms of the loan to be 'brilliant'. It's true the government of Luiz Inacio Lula da Silva has been a pleasant surprise since he was inaugurated i...