The International Monetary Fund has approved a five point three billion dollar emergency payment for Brazil.

The money is the first instalment in a rescue package worth more than forty-one billion dollars worked out between Brazil, the IMF and leading industrial nations.

The package aims to help Brazil out of its financial difficulties and so prevent a wider global crisis.

In return, the Brazilian government has pledged to tackle the huge budget deficit with a tough austerity programme.

But these measures are proving politically unpopular and difficult to implement.

On Wednesday night, the lower house of Congress rejected plans to raise civil servants' pension contributions.