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International Monetary Fund Praises Brazil's Economic Policies

The International Monetary Fund is congratulating Brazil's government for what it calls its "prudent" economic policies, praising the nation for its reductions in inflation and poverty.

The IMF's Managing Director Rodrigo de Rato Tuesday celebrated Brazil's early repayment to the Fund at a ceremony in Brasilia.

Last month, Brazil made a final payment of $15.5 billion to the Fund.

De Rato says Brazil's economic policies have created the foundation for a sustained recovery in growth and employment, a reduction in inflation and what he deemed "good progress" in reducing poverty and inequality.

The IMF director also said the organization will continue to advise Brazil on global economic issues, even though the nation is no longer a borrower.

Some information for this report was provided by AP.