This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Brazil and the IMF. Additional information can be found on Brazil and IMF country page, including official IMF reports and Executive Board documents in English that deal with Brazil.

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At a Glance

  • Current IMF membership: 189 countries
  • Brazil joined the Fund on January 14, 1946
  • Quota: SDR 11,042.0 million
  • The last Article IV Executive Board Consultation was on August 3, 2018 (Country Report 18/253 )

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Office Activities

  • Joint seminars with Casa das Garças and FGV School of Economics on the book Brazil: Boom, Bust and the Road to Recovery

    Antonio Spilimbergo (IMF Mission Chief for Brazil) and Krishna Srinivasan (Deputy Director at the IMF Western Hemisphere Department) presented a new IMF book overviewing Brazil’s recent economic history and recommended policies to sustain stable and inclusive growth. The book launch events took place at Casa das Garças, RJ and the FGV School of Economics in São Paulo.

    March 14, 2019

  • Making Public Investment in Brazil More Efficient

    On the occasion of the presentation of the Fund’s Public Investment Management Assessment report at the National Treasury, Teresa Curristine (Fiscal Affairs Department at the IMF) and Joana Pereira (IMF Resident Representative) blogged about steps to improve Brazil’s infrastructure efficiency and quality.

    December 21, 2018

  • IDB, World Bank and IMF organize a seminar on Brazil’s fiscal challenges

    At this joint seminar experts from Brazil discussed the fiscal challenges and possible solutions that the next government will face. At the occasion, Resident Representative Fabian Bornhorst presented the main findings of the IMF’s technical assistance in the area of public financial management reforms.

    November 29, 2017

  • Meeting with Labor Union Representatives from UGT

    The IMF met with Union Representatives in São Paolo to hear their views about the social security reform and their concerns about the recently approved labor reform.

    November 8, 2017

  • Making the Spending Rule Work

    Teresa Curristine (Fiscal Affairs Department at the IMF) and Resident Representative Fabian Bornhorst blogged ( about how public financial management reforms can help embed the new spending rule into the budget process and strengthen medium term fiscal planning.

    October 4, 2017

IMF's Work on Brazil


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Regional Economic Outlook

Western Hemisphere Regional Economic Outlook - October 2019

Western Hemisphere

Regional Economic Outlook: Stunted by Uncertainty
October 2019

Growth in Latin America and the Caribbean (LAC) has slowed from 1.0 percent in 2018 to 0.2 percent in 2019, but a tentative pick-up to 1.8 percent is expected in 2020. External factors remain a headwind to economic prospects in the region, led by sluggish global growth, subdued commodity prices, and volatile capital flows, although easier global financial conditions provide some respite. Policy uncertainty in some large LAC countries continues to be a drag on growth, while Venezuela’s economic and humanitarian crisis continues to drive large migration flows to other countries in the region. Against this backdrop, the LAC economies will need to rely on domestic sources of growth to accelerate the recovery, which hinges on a pickup in private consumption and investment anchored on a rebound in business and consumer confidence. Risks to the outlook remain skewed to the downside, including further falls in global growth and commodity prices, spikes in risk premiums, heightened domestic policy uncertainty, contagion from the financial turmoil in Argentina, and natural disasters. Given the challenging global environment and still negative output gaps in the region, policies will need to strike a balance between supporting growth and rebuilding policy space. Fiscal consolidation to lower public debt remains a priority in several countries. Monetary policy can continue to support growth given the stable inflation outlook and well-anchored expectations. Corporate vulnerabilities require enhanced surveillance. Structural reforms, aimed at greater openness to trade and investment, bolstering competitiveness, and addressing stringent labor market regulations, remain an imperative.

Read the report