Country of the Month: Brazil

Brazil has the largest economy in Latin America and is Canada's largest trading partner in the area. Economic stability has not been easy to achieve in the past. High rates of inflation and large inequalities in incomes have become characteristics of Brazil's economy. In the past few years it has followed tight monetary policies and more market-based economic strategies, which have reduced inflation but at the cost of recession. Most recently, there has been a growing concern with its financial sector and currency, which has forced devaluation and borrowing from the International Monetary Fund. Brazil has overcome economic difficulties in the past and, it is hoped, will again. Otherwise, the country could experience more economic symptoms similar to those endured recently by Asian countries. Because it is the largest economy in Latin America, trouble in Brazil would likely spread to other countries in the area.

The following links provide a wide variety of information about the country, what it produces, and its trading patterns. Some will lead to Canadian sites that will present information about Brazil's commercial, trade, and business sectors and how they work. Finally, some links will provide an analysis of the country's economic development since 1990 and focus on the most recent concerns of the past year.

I. General Interest and Gateway Sites

The sites in this section provide information about the economy of, and business in, Brazil. You can also find basic information about resources and the country's economic performance in the 1990s. Some will lead you to other useful sites.

• Brazil Page (www.latinvestor.com/country/brazil.htm)

This site leads to many others. Under the heading LINKS TO BRAZILIAN INFORMATION SOURCES, click on Economic Data. This will produce a list of Brazilian sites, most of which provide information in English.

- Click on The Brazilian Economy (www.bndes.gov.br/english/). On the map of Brazil in this site, the Economic Aspects link will take you to a list of useful topics to explore. Economic Bulletin provides specific, current, information (to within the last two months) under headings such as Economic Policy, Economic Activity, Inflation, and External Sector. If you click on Overview you can download a PowerPoint program for presentation purposes.

- Click on The Results of the Real Plan (www.fazenda.gov.br/ingles/real/rea01v00.html). This will lead you to an analysis of the nature and progress of Brazil's plan to stabilize its economy.

Going back to the Brazil Page home page, scroll down to where you can find a chart with the first column labeled BRAZIL PROFILE BY:, which has links to 6 profiles in English from sources such as the World Bank, the CIA World Fact Book, and the U.S. Department of Commerce.

• The Economist Survey: Brazil (www.economist.com/editorial/freeforall/library/index_surveys.html)

The March 27/99 issue of The Economist contained a detailed survey of the country. (Click on Surveys, then Country Surveys.) Click on the Brazil link and the site presents the first part of the survey along with the suggested links below. To get the complete survey, you must be a subscriber or check out the local library for a copy.

Scroll down to LINKS (suggested by The Economist and accessed through the above URL). "The federal constitution of 1988 is published by the government of Brazil. The Ministry of Finance's site contains the latest information on government economic policy. More economic data are available from the Central Bank . McKinsey's study of eight Brazilian industries is available here. In November 1998, the Brazilian government sent a letter of intent to the IMF laying out the policies that Brazil would implement in return for financial support. Recent studies on various aspects of Brazil's economy are available from the National Development Bank."

• Brazil Economy (http://ace.acadiau.ca/polisci/aa/digagora/Country_Profiles/Brazil/economy.htm)

This site is accessed through the Acadia University Web Server. It provides a very nice, relatively brief, overview of the economy up to 1997. It's a good place to start.

• Latin America & Caribbean Countries (www.dfait-maeci.gc.ca/latin/country-e.asp?continent=Latin&country=35)

This is a link within Canada's Department of Foreign Affairs and International Trade site. The links Fact Sheet - Brazil, National Privatization Program - Brazil, and Today's Brazil give the most economic information. Other links will be of greatest interest to those who may be investigating business opportunities and topics.

• Brazil: Commercial Overview (http://strategis.ic.gc.ca/SSG/da90242e.html)

This is part of Industry Canada's Strategis site, which deals with trade and investment. You can read the Commercial Overview, and then continue to click on Next, which will take you to a number of articles including: Economic Trends, Political Environment, and Long Term Prospects, which may be helpful. Note: The source of all content is the U.S. Department of Commerce and has a publication date of July 24, 1998.

• Fossil Energy International: Brazil (www.fe.doe.gov/int/brazil.html)

This link, within the U.S. Department of Energy site, focuses on a description of the energy sector of Brazil's economy. It also contains links to other U.S. sources of economic and business information about Brazil.

II. Current Economic Issues

The sites in this section will address the current economic issues, particularly as they have developed since 1998.

• Global Exchange: Brazil (www.globalexchange.org/campaigns/brazil/economy)

This site presents current articles with a theme that criticizes the effects of what one article calls "globaloney," the neoliberal experiment in de-regulated international commerce and the International Monetary Fund. Other links down the left column may also be of interest.

• National Center for Policy Analysis (www.ncpa.org/pi/internat/intdex9.html)

The NCPA is an U.S. non-profit public policy research institute that focuses on the benefits of market solutions. It provides analysis from a very different perspective than that of Global Exchange (above). Scroll down the Specific Countries & Regions page until you come to Brazil. The eight links will take you to brief summaries of articles from a variety of sources.

• TD Bank: Current Economic and Financial Development

Two articles from a Canadian source that present an analysis of economic events in Brazil in the first three months of 1999.

- Turmoil in Brazil (January 18, 1999)
(www.tdbank.ca/tdeconomics/market_analysis/wd/wd0118.htm)

- Will Latin America Be Another Asia? (March 17, 1999)
(www.tdbank.ca/tdeconomics/market_analysis/current/ca0317.htm)