IMF Criticizes Brazil's Rules for Auto Imports

01/06/97

Reuters reports that a Brazilian newspaper, O Estado de S. Paulo, ran a story that said the International Monetary Fund (IMF) criticized Brazil's protectionist auto import policy. The IMF reportedly said the policy was unnecessary to curb the country's trade deficit.

O Estado reported that the IMF study may be used by the WTO to back up an investigation into the country's auto regulations. The European Union, Japan, South Korea and the United States are all currently challenging the Brazilian rules.

Paul Dever -- The Auto Channel