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Brazil Contests IMF Forecast

By Marcela Canavarro, Contributing Reporter

RIO DE JANEIRO - The International Monetary Fund (IMF) forecast for the world economy in 2009 predicts a decline in Brazilian GDP. The survey "World Economic Outlook", released last week, indicates economic activity 1.3% lower this year. The Brazilian government admitted the country will probably finish the first trimester in a technical recession, configured when GPB drops for two consecutive trimesters. Despite the pessimistic scenario, Brazilian authorities still believe the IMF projection for the whole year is wrong, believing Brazil will in fact close 2009 with a timid growth.

The Treasury Ministry is working on . . .

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