Brazil

Following more than three centuries under Portuguese rule, Brazil gained its independence in 1822, maintaining a monarchical system of government until the abolition of slavery in 1888 and the subsequent proclamation of a republic by the military in 1889. Brazilian coffee exporters politically dominated the country until populist leader Getulio VARGAS rose to power in 1930. By far the largest and most populous country in South America, Brazil underwent more than half a century of populist and military government until 1985, when the military regime peacefully ceded power to civilian rulers. Brazil continues to pursue industrial and agricultural growth and development of its interior. Exploiting vast natural resources and a large labor pool, it is today South America's leading economic power and a regional leader, one of the first in the area to begin an economic recovery. Highly unequal income distribution and crime remain pressing problems. In January 2010, Brazil assumed a nonpermanent seat on the UN Security Council for the 2010-11 term.

Economical characteristics

 * Currency: Real (ISO code: BRL)
 * Central bank discount rate: 8.75% (31 December 2009)
 * Commercial banks lending rate: 47.25% (31 December 2008)
 * Stock of money (M1): $125 billion (30 November 2009)
 * Quasi money (with M1 makes M2): $645 billion (30 November 2009)

Notable events:

 * Banking crisis: 1890-1892, 1897-1898, 1900-1901, 1914, 1923, 1963, November 1985, 1990, 1994-1996
 * Hyperinflation: 1988-1990, 1992-1994 (of single episode 1988-1994)
 * Years in inflation: 26.1% (share of years 1822-2009 with annual inflation above 20 per cent per annum)
 * Public default: 1828-1834, 1898-1901, 1902-1910, 1914-1919, 1931-1933, 1937-1943, 1961, 1964, 1983-1990 (external), 1986-1987, 1990(domestic)

Links

 * Brazil on Wikipedia
 * Central bank of Brazil
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile
 * Brazil Amazon forest to be privately managed by Raymond Colitt, Oct 2010
 * The Brazilian Fisca Responsibility Law (pdf), May, 2000
 * From Soccer to Fiscal Responsibility Laws, Brazil’s Impact on the Maldives by Ian Lienert, April 2010
 * Brazil slams brakes to curb inflation, risking hot money tsunami by Ambrose Evans-Pritchard, January 2011
 * Brazil and the Spirit of Liberty by Jeffrey Tucker, May 2012
 * Brazil’s Slow Default by David Howden, March 2014