IMF calls on crisis-hit Brazil to bolster economy

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WASHINGTON, D.C.: The International Monetary Fund (IMF) on Thursday (Friday in Manila) called on Brazil to reinforce its economy as the country grapples with a severe political and economic crisis. “Clearly, Brazil is facing a difficult situation and the key for Brazil is to strengthen the economic framework,” IMF spokesman Bill Murray said at a news conference. Latin America’s biggest economy shrank 3.8 percent in 2015, the largest contraction in 25 years, and is bracing for another year of recession in 2016.

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