Brazilian Economy Minister Paulo Guedes criticized the International Monetary Fund for failing to spot surging inflation, saying it led to "misguided" advice, in contrast to early action in Brazil that he said has put the country ahead of the curve in controlling rising prices.
In a statement to the International Monetary and Financial Committee released by the IMF on Tuesday, Guedes cited a broadening in the IMF's agenda in recent years to "incorporate non-core issues," and said the fund needs to "concentrate on its traditional core mandate."
