Fiscal Adjustment. (i) The Borrower has achieved in 2007 a primary surplus of at least R$1,076 million in compliance with the PAF-2007-2009 as evidenced through Ofício No. 3195/2008/COREM/STN sent by STN to the Borrower on April, 11, 2008. (ii) Guarantor is maintaining a macroeconomic policy framework which does not jeopardize the objectives of the Program, in the opinion of the Bank.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement