ork, 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
Donna J. HRINAK embassy: Avenida das Nacoes, Quadra 801, Lote 3, Distrito
Federal Cep 70403-900, Brasilia mailing
[55] (061) 321-7272 FAX: 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. The maintenance of large current account deficits via
capital account surpluses became problematic as investors became more risk
averse to emerging market exposure as a consequence of the Asian financial
crisis in 1997 and the Russian bond default in August 1998. After crafting
a fiscal adjustment program and pledging progress on structural reform,
Brazil received a $41.5 billion IMF-led international support program in
November 1998. In January 1999, the Brazilian Central Bank announced that
the real would no longer be pegged to the US dollar. This devaluation
helped moderate the downturn in economic growth in 1999 that investors
had expressed concerns about over the summer of 1998, and the country
posted moderate GDP growth. Economic growth slowed considerably in 2001
- to less than 2% - because of a slowdown in major markets and the
hiking of interest rates by the Central Bank to combat inflationary
pressures. Investor confidence was strong at yearend 2001, in part
because of the strong recovery in the trade balance.

GDP: purchasing power parity - $1.34 trillion (2001 est.)

GDP - real growth rate: 1.9% (2001 est.)

GDP - per capita: purchasing power parity - $7,400 (2000 est.)

GDP - composition by sector: agriculture: 9% industry: 32% services: 59%
(2000 est.)

Population below poverty line: 22% (1998 est.)

Household income or consumption by percentage share: lowest 10%: 1%
highest 10%: 46.7% (1997)

Distribution of family income - Gini index: 59.1 (1997)

Inflation rate (consumer pr