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IMF Managing Director to Visit Brazil


The International Monetary Fund's managing director is due to visit Brazil next week to mark the country's early re-payment of its entire debt to the IMF.

The IMF says Rodrigo de Rato will be in Brazil on January 10-11 at the invitation of President Luiz Inacio Lula da Silva. The IMF also says Mr. de Rato will meet in Brasilia with President da Silva, Finance Minister Antonio Palocci and the president of Brazil's central bank, Henrique Meirelles.

According to the IMF, Brazil completed early re-payment of its $15.5 billion debt late last month.

The re-payment represents an economic turnaround for Brazil, which in 2002 obtained an unprecedented loan from the IMF to avoid a massive default on its debt.

Brazil is South America's largest economy.