The Director of the IMF (International Monetary Fund ) for the Western Hemisphere Nicolás Eyzaguirre said the risk of a possible overheating of the Brazilian economy if the federal government does not adopt a more restrictive fiscal policy next year.
According to him, the government's policy on public spending and the expansion of credit through public banks, was adapted in response to the global economic crisis in 2009 and its maintenance for this year is "understandable", but in 2011, it is absolutely advisable to make an adjustment to the budget.
For the leader of the IMF countries of South America, including Brazil, have a history that indicate a temptation to adopt an expansionary fiscal policy and financial action. However, given the excellent trend of the Brazilian economy, high commodity prices and the huge flows of financial capital from abroad will not be easy to contain the appreciation of the Real.
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