IMF makes available additional $448 million to Brazil

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The IMF's Executive Board on January 23, approved its first review of Brazil's performance under its $15.2 billion Stand-By arrangement. So far Brazil has drawn $4.6 billion from the IMF under this arrangement, which was approved on September 14, 2001 to help the Brazilian economy cope with shocks and to promote continued, stable growth.

Completion of the review allows Brazil to draw, if needed, an additional $448 million.

Following the Executive Board Meeting on Brazil, IMF Managing Director Horst Köhler said "the maintenance of strong macroeconomic policies and the support of the IMF have enabled Brazil to withstand a...