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.

Back to Top

At a Glance

  • Current IMF membership: 190 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 )

Back to Top

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

Back to Top

Regional Economic Outlook

Regional Economic Outlook: Western Hemisphere - October 2020

Western Hemisphere

Regional Economic Outlook: Pandemic Persistence Clouds the Recovery
October 2020

The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened. Real GDP is projected to contract by 8.1 percent in 2020, followed by a mild recovery in 2021 reflecting persistent spread of the virus and associated social distancing and scarring. Risks to the outlook remain tilted to the downside, and uncertainty about the pandemic’s evolution is a key source of risk. Containing the spread of the virus and addressing the health crisis remain the key policy priorities. In countries where lockdowns still hamper activity, policies should focus on ensuring that firms have sufficient liquidity, and on protecting employment and income, while developing medium-term fiscal consolidation plans to safeguard debt sustainability. In countries that are easing lockdowns, efforts should focus on supporting the recovery, including through structural reforms. Once the pandemic is under control, and the recovery is on a strong footing, fiscal policy will need to focus on rebuilding buffers. Monetary policy should remain accommodative as long as inflation stays within the target range and inflation expectations are well anchored.

Read the report