The Brazilian president met with Asian Infrastructure Investment Bank President Jin Liqun. The institution, the executive said, has no capital restrictions and is ready to provide a large amount of resources “to boost Brazil’s economic and social development.”
With a predicted growth of 3.1% this year, the country should end the year with a $2.13 tri GDP, overtaking Canada, the IMF announced. Last year, Brazil ranked 11th.
Finance Minister Fernando Haddad gave a speech in Marrakech, at an event held on the sidelines of the annual meeting of the IMF and the World Bank. Reforming multilateral banks and ecology will also be among the priorities.
In April, the IMF cut the predicted increase in the Brazilian economy to 0.9% in 2023, below the world average as well as the average for Latin America and the Caribbean. In January, the prediction was 1.2%.
Guedes urged advanced economies to increase their contribution to the Poverty Reduction and Growth Trust (PRGT) and lend to more vulnerable countries.