Brazil: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil

November 15, 2016

Preview Citation

Format: Chicago

Brazil: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil, (USA: International Monetary Fund, 2016) accessed November 27, 2024

Summary

The economy is still in its deepest recession in decades, partly the result of the failure of past policies. The recession has been aggravated by a political crisis, which had, until recently, paralyzed policymaking and further damaged confidence. President Rousseff was impeached for responsibility crimes related to fiscal practices on August 31, and the government that took office in May will remain in charge until January 1st, 2019. Markets have responded positively to the new government’s reform agenda, bolstering asset prices and confidence and helping the country ride a positive wave of sentiment toward emerging economies. However, while some high-frequency indicators suggest the recession may be nearing its end, the implementation of much-needed reforms to durably restore policy credibility is subject to risks.

Subject: Banking, Expenditure, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt

Keywords: Central bank's target, CR, Fiscal stance, Floating exchange rate regime, GDP, Global, Inflation, Inflation expectation, ISCR, Market condition, Policy, Tolerance range

Publication Details

Pages:

96
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/348
Stock No:

1BRAEA2016001
ISBN:

9781475553192
ISSN:

1934-7685

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