"According to Marcos Arruda of PACS, a non-governmental research center in Rio de Janeiro:
“Lula’s economic team by pursuing IMF-imposed policies is gutting social payments not just for the retired, but also for the disabled and the poorer families as well.” The pursuance of orthodox economic policies has also pushed up official unemployment to 12 percent while domestic interest rates stand at 26.5 percent, among the highest rates in the world. In Sao Paulo, Brazil’s largest city, unemployment has reached 20 percent."
IMF: INTERNATIONAL MONETARY FUND.