nsulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami,
New York, and San Francisco
chancery: 3006 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 238-2700

Diplomatic representation from the US:
chief of mission: Ambassador John DANILOVICH
embassy: Avenida das Nacoes, Quadra 801, Lote 3, Distrito Federal
Cep 70403-900, Brasilia
mailing address: Unit 3500, APO AA 34030
telephone: [55] (61) 312-7000
FAX: [55] (61) 225-9136
consulate(s) general: Rio de Janeiro, Sao Paulo
consulate(s): Recife

Flag description:
green with a large yellow diamond in the center bearing a blue
celestial globe with 27 white five-pointed stars (one for each state
and the Federal District) arranged in the same pattern as the night
sky over Brazil; the globe has a white equatorial band with the
motto ORDEM E PROGRESSO (Order and Progress)

Economy Brazil

Economy - overview:
Possessing large and well-developed agricultural, mining,
manufacturing, and service sectors, Brazil's economy outweighs that
of all other South American countries and is expanding its presence
in world markets. From 2001-03 real wages fell and Brazil's economy
grew, on average, only 1.1% per year, as the country absorbed a
series of domestic and international economic shocks. That Brazil
absorbed these shocks without financial collapse is a tribute to the
resiliency of the Brazilian economy and the economic program put in
place by former President CARDOSO and strengthened by President Lula
DA SILVA. The three pillars of the economic program are a floating
exchange rate, an inflation-targeting regime, and tight fiscal
policy, which have been reinforced by a series of IMF programs. The
currency depreciated sharply in 2001 and 2002, which contributed to
a dramatic current account adjustment: in 2003, Brazil ran a record
trade surplus and recorded the first current account surplus since
1992. While economic management has been good, there remain
important economic vulnerabilities. The most significant are
debt-related: the government's largely domestic debt increased
steadily from 1994 to 2003, straining government finances, while
Brazil's foreign debt (a mix of private and public debt) is large in
relation to Brazil's modest (but growing) export base. Another
challenge is maintaining economic growth over a period of time to
generate employment and make the gover