December 13, 2005
JS-4319

Statement of Treasury Secretary John W. Snow on Brazil's
IMF Repayment Announcement

I welcome Brazil's decision to prepay its remaining debt to the IMF. This decision confirms Brazil's greatly improved external position and the benefits of its strong macroeconomic and debt management policies. It also marks an important milestone in Brazil's successful and cooperative engagement with the IMF. This reflects well on the economic policies put in place by President Lula and Finance Minister Palocci.