US's Snow pleased with Brazil IMF decision

U.S. Treasury Secretary John Snow said in a statement on Monday 28 March that he was glad Brazil has decided it does not need a new International Monetary Fund loan accord.

"It is terrific news, a hallmark of financial accomplishment for the country, and great credit goes to President Lula for this success," Snow said in a statement.

"Under President Lula's leadership, Brazil's good macroeconomic policies have brought down inflation, reduced the country's debt, and provide the foundation for so