s, Miami, New Orleans, and New York
consulates:
Dallas, Houston, and San Francisco
US diplomatic representation:
chief of mission:
Ambassador Richard MELTON
embassy:
Avenida das Nacoes, Lote 3, Brasilia, Distrito Federal
mailing address:
APO AA 34030
telephone:
[55] (61) 321-7272
FAX:
[55] (61) 225-9136
consulates general:
Rio de Janeiro, Sao Paulo
consulates:
Porto Alegre, 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,
launched an ambitious reform program that sought to modernize and
reinvigorate the economy by stabilizing prices, deregulating the economy,
and opening it to increased foreign competition. The government also
obtained an IMF standby loan in January 1992 and reached agreements with
commercial bankers on the repayment of interest arrears and on the reduction
of debt and debt service payments. Galloping inflation - the rate doubled in
1992 - continues to undermine economic stability. Itamar FRANCO, who assumed
the presidency following President COLLOR'S resignation in December 1992,
has promised to support the basic premises of COLLOR'S reform program but
has yet to define clearly his economic policies. Brazil's natural resources
remain a major, long-term economic strength.
National product:
GDP - exchange rate conversion - $369 billion (1992)
National product real growth rate:
-0.2% (1992)
National product per cap