Economics
One Radical Idea for Fixing Brazil’s Politics: an IMF Bailout
- Jen says IMF conditions would help overcome political disarray
- `It’s a little wacky, but I think it makes so much sense'
Dilma Rousseff, Brazil's president.
Photographer: Lula Marques/BloombergThis article is for subscribers only.
Stephen Jen has a proposal for Brazil to get out of the current economic mess: ask for a bailout from the International Monetary Fund.
Not that Brazil needs the funding, said Jen, a former IMF economist. Latin America’s largest economy holds $371 billion in foreign reserves, almost 10 times the amount of the government’s foreign-currency debt.