Questão número 637913

Read the text below in order to answer questions 19 to 22:

IMF COMPLETES BRAZIL FIFTH REVIEW

The Executive Board of the International Monetary Fund (IMF) today completed the fifth review under the Stand-By credit for Brazil. As a result, Brazil will be able to draw, if needed, up to the equivalent of SDR 814.05 million ( about US$1,066 million ) from the IMF.

In commenting on the Executive Board's discussion of the review, Stanley Fischer, First Deputy Managing Director, made the following statement:

"Executive Directors commended the authorities for the performance of the Brazilian economy under the Government's program and noted with satisfaction that developments in the Brazilian economy since the completion of the fourth review at the end of November 1999 have been better than projected under the program, and that Brazil has continued to make progress in its macroeconomic adjustment and structural reforms. In particular, Directors noted that activity is recovering at a sustained pace, unemployment continues to decline gradually and inflation is decelerating in line with targets. They also welcomed the strong expansion in export in recent months".

Concerning the Brazilian macroeconomic adjustment and structural reforms, progress

• A. could have been made
• B. has been made
• C. might be made
• D. must have been made
• E. may be made