IMF’s Lagarde: Brazil needs higher budget surplus for credibility

RIO DE JANEIRO (Reuters) – Brazil’s efforts to increase its primary budget savings are crucial for the country to regain investors’ confidence, the head of the International Monetary Fund said on Friday.

Speaking at a central bank event in Rio de Janeiro, Christine Lagarde said Brazil’s recent monetary tightening has already been working to control inflation expectations.

(Reporting by Alonso Soto and Walter Brandimarte)