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".

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".

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".

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".

Read the text below in order to answer questions 15 to 18:

THE GOLDILOCKS SCENARIO CONTINUES

As the new Millennium gets under way, the US economy completes its ninth year of expansion. The Federal Reserve raised interest rates three times last year to temper the economy's expansion, which is the longest in US history. The benchmark lending rate was 5.5% at the start of the new year.

Analysts have been predicting that US interest rates would go up again when the Federal Open Market Committee meets. The economy's performance in the past calendar years (1996 to 1999) has surpassed all but the most optimistic predictions at the beginning of the period.

Growth of the economy has exceeded 4% in each of these years – with the exception of 1999 for which figures have yet to be announced, although 4% looks increasingly likely.

Few analysts thought the economy could sustain a growth performance like this without an increase in inflation. This situation has been dubbed the Goldilocks scenario.

Read the text below in order to answer questions 15 to 18:

THE GOLDILOCKS SCENARIO CONTINUES

As the new Millennium gets under way, the US economy completes its ninth year of expansion. The Federal Reserve raised interest rates three times last year to temper the economy's expansion, which is the longest in US history. The benchmark lending rate was 5.5% at the start of the new year.

Analysts have been predicting that US interest rates would go up again when the Federal Open Market Committee meets. The economy's performance in the past calendar years (1996 to 1999) has surpassed all but the most optimistic predictions at the beginning of the period.

Growth of the economy has exceeded 4% in each of these years – with the exception of 1999 for which figures have yet to be announced, although 4% looks increasingly likely.

Few analysts thought the economy could sustain a growth performance like this without an increase in inflation. This situation has been dubbed the Goldilocks scenario.

Read the text below in order to answer questions 15 to 18:

THE GOLDILOCKS SCENARIO CONTINUES

As the new Millennium gets under way, the US economy completes its ninth year of expansion. The Federal Reserve raised interest rates three times last year to temper the economy's expansion, which is the longest in US history. The benchmark lending rate was 5.5% at the start of the new year.

Analysts have been predicting that US interest rates would go up again when the Federal Open Market Committee meets. The economy's performance in the past calendar years (1996 to 1999) has surpassed all but the most optimistic predictions at the beginning of the period.

Growth of the economy has exceeded 4% in each of these years – with the exception of 1999 for which figures have yet to be announced, although 4% looks increasingly likely.

Few analysts thought the economy could sustain a growth performance like this without an increase in inflation. This situation has been dubbed the Goldilocks scenario.

Read the text below in order to answer questions 15 to 18:

THE GOLDILOCKS SCENARIO CONTINUES

As the new Millennium gets under way, the US economy completes its ninth year of expansion. The Federal Reserve raised interest rates three times last year to temper the economy's expansion, which is the longest in US history. The benchmark lending rate was 5.5% at the start of the new year.

Analysts have been predicting that US interest rates would go up again when the Federal Open Market Committee meets. The economy's performance in the past calendar years (1996 to 1999) has surpassed all but the most optimistic predictions at the beginning of the period.

Growth of the economy has exceeded 4% in each of these years – with the exception of 1999 for which figures have yet to be announced, although 4% looks increasingly likely.

Few analysts thought the economy could sustain a growth performance like this without an increase in inflation. This situation has been dubbed the Goldilocks scenario.