SAO PAULO (Reuters) – Economy Minister Paulo Guedes said Brazil weathered the Covid-19 shock better than many expected and is well positioned for a robust and lasting recovery, and said the government remains committed to implement its reform agenda, despite the challenges posed by the pandemic.
In a statement prepared for the International Monetary Fund on behalf of Brazil, Cape Verde, Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Democratic Republic of Timor-Leste and Trinidad and Tobago, Guedes also called attention to persistence of price pressures in several countries and said the Central Bank of Brazil has reacted in line with its mandate to bring inflation back to target by 2022.
On Tuesday, the IMF lowered its estimates for economic growth in Brazil and significantly raised its forecast for rising prices.
(By Luana Maria Benedito)
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