Brazil: Staff Report for the 2013 Article IV Consultation

International Monetary Fund

No 2013/312, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2013 Article IV Consultation highlights that Brazil’s economy is recovering gradually from the slowdown that began in mid-2011. Consumption remained resilient last year underpinned by low unemployment and broad gains in real wages, although it has slowed somewhat more recently. After a protracted period of weakness, investment has begun to recover in recent quarters while business confidence has firmed. With the economy estimated to be operating close to potential, supply-side constraints have restrained near-term growth and exacerbated inflationary pressures. Financial conditions have tightened but credit growth has remained strong, driven by public banks’ lending.

Keywords: ISCR; CR; sovereign bond bond yield; bond yield; July monetary policy meeting; debt; inflation tolerance band; food inflation; staff appraisal; Inflation; State-owned banks; Global (search for similar items in EconPapers)
Pages: 97
Date: 2013-10-23
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