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Brazil: 2020 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Brazil »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Brazil: Staff Report for the 2020 Article IV Consultation—Debt Sustainability Analysis »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Brazil: Staff Report for the 2020 Article IV Consultation—Informational Annex »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

IMF Executive Board Concludes 2020 Article IV Consultation with Brazil »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Statement by Mr. Bevilaqua on Brazil November 25, 2020 »

Source: Brazil : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2020/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2020

ISBN: 9781513562674

Keywords: Public debt, Expenditure, Labor, Income, Labor markets, ISCR, CR, inflation expectation, reform agenda, liability positions vis-à-vis nonresident

The COVID-19 pandemic has worsened Brazil's longstanding vulnerabilities of low potential growth, high income inequality, and weak fiscal position. While the authorities mounted a rapid and effective response to su...

Financial Frictions and Firm Informality: A General Equilibrium Perspective1 »

Source: Financial Frictions and Firm Informality: A General Equilibrium Perspective

Volume/Issue: 2020/211

Series: IMF Working Papers

Author(s): Luis Franjo , Nathalie Pouokam , and Francesco Turino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2020

ISBN: 9781513557809

Keywords: Self-employment, Tax evasion, Financial frictions, Credit, Informal economy, WP, informal firm, firms informality, survival firm, ghost firm

In this paper we build a model of occupational choice with informal production and progressive income taxation. We calibrate the model to the Brazilian economy to evaluate the impact of removing financial frictions...

Brasil: Relatório de assistência técnica — fortalecimento da responsabilidade fiscal na esfera subnacional »

Source: Brazil : Technical Assistance Report-Strengthening Fiscal Responsibility at the Subnational Level

Volume/Issue: 192020/227

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2020

Language: Portuguese

ISBN: 9781513555997

The fiscal challenges of Brazil's states and municipalities can have a significant impact on the economy and the provision of core public services. The subnational governments (SNGs) account for a large share of pu...

Brazil: Technical Assistance Report—Strengthening Fiscal Responsibility at The Subnational Level »

Source: Brazil : Technical Assistance Report-Strengthening Fiscal Responsibility at the Subnational Level

Volume/Issue: 192020/227

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2020

ISBN: 9781513551760

The fiscal challenges of Brazil's states and municipalities can have a significant impact on the economy and the provision of core public services. The subnational governments (SNGs) account for a large share of pu...

Social Programs and Formal Employment: Evidence from the Brazilian Bolsa Família Program »

Source: Social Programs and Formal Employment: Evidence from the Brazilian Bolsa Família Program

Volume/Issue: 2020/99

Series: IMF Working Papers

Author(s): Anna Fruttero , Alexandre Ribeiro Leichsenring , and Luis Henrique Paiva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2020

ISBN: 9781513547701

Keywords: Labor supply, Labor markets, Human capital, Labor force participation, Nonmetropolitan areas, Anti Poverty, Poverty, Welfare, Well Being, Informality

Employment is key to combating poverty. Thus, detractors of social assistance programs argue that they create disincentives to work. While there is substantial evidence showing limited effects of these programs on...

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability »

Source: FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability

Volume/Issue: 2020/90

Series: IMF Working Papers

Author(s): Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513547664

Keywords: Central banks, Exchange markets, Exchange rate markets, Exchange rate determination, Exchange rate forecasting, FX intervention, profitability, exchange rate, WP, BRL

We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is u...

Why Did Public Banks Lend More During the Global Financial Crisis?1 »

Source: Why Did Public Banks Lend More During the Global Financial Crisis?

Volume/Issue: 2020/84

Series: IMF Working Papers

Author(s): Joshua Bosshardt , and Eugenio Cerutti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 June 2020

ISBN: 9781513546049

Keywords: Central banks, Financial crises, Banking systems, Commercial banks, Bank capital, state-owned banks, lending, global financial crisis, WP, public bank

During the Global Financial Crisis (GFC), state-owned or public banks lent relatively more than domestic private banks in many countries. However, data limitations have hindered a thorough assessment of what led pu...

Doing More with Less: How Can Brazil Foster Development While Pursuing Fiscal Consolidation? »

Source: Doing More with Less: How Can Brazil Foster Development While Pursuing Fiscal Consolidation?

Volume/Issue: 2019/236

Series: IMF Working Papers

Author(s): Valentina Flamini , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2019

ISBN: 9781513509358

Keywords: Economic growth, Supply and demand, Public expenditures and education, Capital expenditure, Public expenditures and health, SDGs, development, fiscal policy, public spending, Brazil

Following a benchmarking exercise, we estimate the spending required to reach satisfactory progress in the Sustainable Development Goals in the health, education, and infrastructure sectors in Brazil. We find that...

Brazil »

Source: Brazil : Technical Assistance Report-Strengthening the Framework for Subnational Borrowing

Volume/Issue: 2019/302

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2019

ISBN: 9781513514710

Keywords: Economic conditions, Fiscal indicators, Economic growth, Financial indicators, Fiscal policy, ISCR, CR, subnational, FRL, FRR

This Technical Assistance report on Brazil highlights strengthening the framework for substantial borrowing. A significant change in the institutional framework is needed to impose hard budget constraints and promo...

Brazil: 2019 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Brazil »

Source: Brazil : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508368

Keywords: Balance of payments, Central banks, Economic indicators, Expenditures, Gross domestic product, BCB, pension reform, primary balance, BNDES, percent

This 2019 Article IV Consultation with Brazil discusses that growth is projected at 0.8 percent in 2019 and to accelerate in 2020 conditional on the approval of a robust pension reform and favorable financial condi...

Brazil: Elected Issues »

Source: Brazil : Selected Issues

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508375

Keywords: Central banks, Exchange rate policy, Foreign exchange operations, Financial crises, Currency swaps, BCB, TSA, fiscal operation, cambial, repo

This Selected Issues paper examines the profitability of the foreign exchange (FX) swaps issued the Central Bank of Brazil (BCB) between May 2013 and February 2019 to shed light on the rationale for FX intervention...

Brazil: Elected Issues »

Source: Brazil : Selected Issues

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508375

Keywords: Central banks, Exchange rate policy, Foreign exchange operations, Financial crises, Currency swaps, BCB, TSA, fiscal operation, cambial, repo

This Selected Issues paper examines the profitability of the foreign exchange (FX) swaps issued the Central Bank of Brazil (BCB) between May 2013 and February 2019 to shed light on the rationale for FX intervention...

Brazil: Staff Report for the 2019 Article IV Consultation—Debt Sustainability Analysis »

Source: Brazil : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508368

Keywords: Balance of payments, Central banks, Economic indicators, Expenditures, Gross domestic product, BCB, pension reform, primary balance, BNDES, percent

This 2019 Article IV Consultation with Brazil discusses that growth is projected at 0.8 percent in 2019 and to accelerate in 2020 conditional on the approval of a robust pension reform and favorable financial condi...

Brazil: Staff Report for the 2019 Article IV Consultation—Informational Annex »

Source: Brazil : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508368

Keywords: Balance of payments, Central banks, Economic indicators, Expenditures, Gross domestic product, BCB, pension reform, primary balance, BNDES, percent

This 2019 Article IV Consultation with Brazil discusses that growth is projected at 0.8 percent in 2019 and to accelerate in 2020 conditional on the approval of a robust pension reform and favorable financial condi...

IMF Executive Board Concludes 2019 Article IV Consultation with Brazil »

Source: Brazil : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508368

Keywords: Balance of payments, Central banks, Economic indicators, Expenditures, Gross domestic product, BCB, pension reform, primary balance, BNDES, percent

This 2019 Article IV Consultation with Brazil discusses that growth is projected at 0.8 percent in 2019 and to accelerate in 2020 conditional on the approval of a robust pension reform and favorable financial condi...

Statement by Alexandre Tombini, Executive Director for Brazil July 15, 2019 »

Source: Brazil : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

Volume/Issue: 2019/243

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2019

ISBN: 9781513508368

Keywords: Balance of payments, Central banks, Economic indicators, Expenditures, Gross domestic product, BCB, pension reform, primary balance, BNDES, percent

This 2019 Article IV Consultation with Brazil discusses that growth is projected at 0.8 percent in 2019 and to accelerate in 2020 conditional on the approval of a robust pension reform and favorable financial condi...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Technical Note on Fund Management: Regulation, Supervision and Systemic Risk Monitoring

Volume/Issue: 2018/358

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2018

ISBN: 9781484389010

Keywords: Western Hemisphere, Brazil

Brazil has a large and diverse investments funds sector which is subject to a robust regulatory framework. The competent authority, the Comissão de Valores Mobiliários (CVM), requires high standards of the entities...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Technical Note on Bank Resolution, Financial Sector Safety Nets, Crisis Prevention and Management

Volume/Issue: 2018/341

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387528

Keywords: Western Hemisphere, Brazil

Important improvements have been made to the bank resolution, safety net and crisis management framework since the last FSAP. The resolution framework has been strengthened with the creation, within the Banco Centr...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Technical Note on Stress Testing and Systemic Risk Analysis

Volume/Issue: 2018/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387566

Keywords: Brazil, Western Hemisphere

The financial system has been resilient through the severe recession. Banks and investment funds dominate Brazil's financial system landscape. The banking sector has continued to be well-capitalized, profitable, an...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Detailed Assessment of Observance - Basel Core Principles for Effective Banking Supervision

Volume/Issue: 2018/340

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387504

Keywords: Brazil, Western Hemisphere

The Central Bank of Brazil (BCB) has shown a determined commitment to enhancing its standards and practices of banking supervision. Changes in the thinking and practices of the BCB's supervision are not limited to...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Technical Note on Systemic Liquidity Management

Volume/Issue: 2018/345

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387573

Keywords: Western Hemisphere, Brazil

Brazil's financial markets are generally liquid and sophisticated. Brazil is blessed with a wide array of instruments which investors can use to manage and hedge interest rate and FX risks. The infrastructure suppo...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Technical Note on Insurance Sector Regulation and Supervision

Volume/Issue: 2018/343

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387559

Keywords: Brazil, Western Hemisphere

The insurance sector has significant potential for expansion and to contribute to economic growth as an important part of the financial sector. While the insurance sector has grown at 10 percent annually over the...

Brazil »

Source: Brazil : Financial Sector Assessment Program-Technical Note on Supervision and Oversight of Financial Market Infrastructures

Volume/Issue: 2018/342

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387535

Keywords: Western Hemisphere, Brazil

Brazilian FMIs are among the top twenty worldwide. All together there are sixteen financial market infrastructures2 (FMIs) operating in the Brazilian payment system (SPB), out of which nine3 are systemically import...

Brazil »

Source: Brazil : Financial System Stability Assessment

Volume/Issue: 2018/339

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2018

ISBN: 9781484387474

Keywords: Brazil, Western Hemisphere

Since the Brazil 2012 FSAP, the financial system has been stable despite the deep recession. The resiliency of the banking system was supported by high profitability, buoyed by large interest margins. While the fin...

Brazil »

Source: Brazil : Technical Assistance Report-Public Investment Management Assessment

Volume/Issue: 2018/249

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2018

ISBN: 9781484372050

Keywords: Brazil, Western Hemisphere

Brazil is the largest country in Latin America with a varied geography and a population of over 200 million spread across 26 diverse states, generating wide-ranging infrastructure needs. Over the decades, many gove...

Brazil: Technical Assistance Report-Public Investment Management Assessment »

Source: Brazil : Technical Assistance Report-Public Investment Management Assessment

Volume/Issue: 2018/249

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 2018

Language: Portuguese

ISBN: 9781484386873

Brazil is the largest country in Latin America with a varied geography and a population of over 200 million spread across 26 diverse states, generating wide-ranging infrastructure needs. Over the decades, many gove...