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By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - On Monday January 16th, the International Monetary Fund (IMF) announced that it had reduced its forecast of Brazilian GDP growth from 1.5 percent to 0.2 percent in 2017.

The estimate is more pessimistic than that of financial institutions, which projected expansion of 0.5 percent, according to the Focus Bulletin, a weekly survey of market analysts released by the Central Bank.

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