ue NW,
Washington, DC 20008; telephone (202) 745-2700; there are Brazilian
Consulates General in Chicago, Los Angeles, Miami, New Orleans, and New
York, and Consulates in Dallas, Houston, and San Francisco
US:
Ambassador Richard MELTON; Embassy at Avenida das Nacoes, Lote 3, Brasilia,
Distrito Federal (mailing address is APO AA 34030); telephone [55] (61)
321-7272; FAX [55] (61) 225-9136; there are US Consulates General in Rio de
Janeiro and Sao Paulo, and Consulates in PortoAlegre and Recife
Flag:
green with a large yellow diamond in the center bearing a blue celestial
globe with 23 white five-pointed stars (one for each state) 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)

:Brazil Economy

Overview:
The economy, with large agrarian, mining, and manufacturing sectors, entered
the 1990s with declining real growth, runaway inflation, an unserviceable
foreign debt of $122 billion, and a lack of policy direction. In addition,
the economy remained highly regulated, inward-looking, and protected by
substantial trade and investment barriers. Ownership of major industrial and
mining facilities is divided among private interests - including several
multinationals - and the government. Most large agricultural holdings are
private, with the government channeling financing to this sector. Conflicts
between large landholders and landless peasants have produced intermittent
violence. The Collor government, which assumed office in March 1990, is
embarked on an ambitious reform program that seeks to modernize and
reinvigorate the economy by stabilizing prices, deregulating the economy,
and opening it to increased foreign competition. The government in December
1991 signed a letter of intent with the IMF for a 20-month standby loan.
Having reached an agreement on the repayment of interest arrears accumulated
during 1989 and 1990, Brazilian officials and commercial bankers are engaged
in talks on the reduction of medium- and long-term debt and debt service
payments and on the elimination of remaining interest arrears. A major
long-run strength is Brazil's vast natural resources.
GDP:
exchange rate conversion - $358 billion, per capita $2,300; real growth rate
1.2% (1991)
Inflation rate (consumer prices)