October 9, 2016

Ms. Christine Lagarde Managing Director of the International Monetary Fund and Mr. Henrique Meirelles, Brazil's Finance Minister met today in the context of the IMF's 2016 Annual Meetings in Washington. At the end of the meeting, Ms Lagarde issued the following statement:

“I was pleased to meet Mr. Meirelles today. We discussed the Brazilian authorities' reform plans for the fiscal sector, including the constitutional amendment to cap the growth of government spending and the planned social security reform.

“I am encouraged by the focus and direction of these reforms. Approving them in a reasonable timeframe would help strengthen the credibility of the macroeconomic policy framework, bolster confidence in the economy, and anchor a return to strong, inclusive and sustainable growth in Brazil.”