The US Secretary of the Treasury, John Snow, once again praised the Brazilian government's economic policy in a speech to the Rio de Janeiro Commercial Confederation yesterday.

Snow cited the reduction of the country's debt/GDP ratio, the control of inflation and the trade surplus as positive points.

The US Secretary of the Treasury had only eulogies for the performance of Brazil's minister of Finance, Antonio Palocci.

"He is committed to good policy that will result in economic growth in the long-term. The results have been extraordinary," declared Snow.

As for President Luiz Inácio Lula da Silva, Snow said he has become a leader in the fight against poverty and hunger.

"Lula has embraced this cause and made it an international issue. That is positive. It has been a long time since Latin America saw a leader like Lula," said Snow.

Agência Brasil

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