Legislative branch: bicameral National Congress (Congresso
Nacional)
Federal Senate (Senado Federal): election last held 3 October 1994
for two-thirds of Senate (next to be held October 1996 for one-third
of the Senate); results - PMBD 28%, PFL 22%, PSDB 12%, PPR 7%, PDT
7%, PT 6%, PTB 6%, other 12%; seats - (81 total) seats by party NA
Chamber of Deputies (Camara dos Deputados): election last held 3
October 1994 (next to be held October 1998); results - PMDB 21%, PFL
18%, PDT 7%, PSDB 12%, PPR 10%, PTB 6%, PT 10%, other 16%; seats -
(517 total) seats by party NA
note: party totals since Fall 1994 have changed considerably due to
extensive party-switching
Judicial branch: Supreme Federal Tribunal, judges are appointed
for life by the Senate
Political parties and leaders: National Reconstruction Party
(PRN), Daniel TOURINHO, president; Brazilian Democratic Movement
Party (PMDB), Paes DE ANDRADE, president; Liberal Front Party (PFL),
Jorge BORNHAUSEN, president; Workers' Party (PT), Jose DIRCEU,
president; Brazilian Workers' Party (PTB), Rodrigues PALMA,
president; Democratic Labor Party (PDT), Leonel BRIZOLA, president;
Brazilian Progressive Party (PPB), Espiridiao AMIN, president;
Brazilian Social Democracy Party (PSDB), Artur DA TAVOLA, president;
Popular Socialist Party (PPS), Roberto FREIRE, president; Communist
Party of Brazil (PCdoB), Joao AMAZONAS, chairman; Liberal Party
(PL), Alvaro VALLE, president
Other political or pressure groups: left wing of the Catholic
Church and labor unions allied to leftist Workers' Party are
critical of government's social and economic policies
International organization participation: AfDB, AG (observer),
CCC, ECLAC, FAO, G-11, G-15, G-19, G-24, G-77, IADB, IAEA, IBRD,
ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO,
Inmarsat, Intelsat, Interpol, IOC, IOM (observer), ISO, ITU, LAES,
LAIA, Mercosur, MTCR, NAM (observer), OAS, OPANAL, PCA, RG, UN,
UNAVEM III, UNCRO, UNCTAD, UNESCO, UNHCR, UNIDO, UNPREDEP, UNPROFOR,
UNU, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in US:
chief of mission: Ambassador Paulo Tarso FLECHA de LIMA
chancery: 3006 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 745-2700
FAX: [1] (202) 745-2827
consulate(s) general: Boston, Chicago, Los Angeles, Miami, New York,
San Juan (Puerto Rico), and San Francisco
consulate(s): Houston
US diplomatic representation:
chief of mission: Ambassador Melvyn LEVITSKY
embassy: Avenida das Nacoes, Lote 3, Brasilia, Distrito Federal
mailing address: Unit 3500, APO AA 34030
telephone: [55] (61) 321-7272
FAX: [55] (61) 225-9136
consulate(s) general: Rio de Janeiro, Sao Paulo
consulate(s): Porto Alegre, Recife
Flag: green with a large yellow diamond in the center bearing a blue celestial globe with 27 white five-pointed stars (one for each state and the Federal District) arranged in the same pattern as the night sky over Brazil; the globe has a white equatorial band with the motto ORDEM E PROGRESSO (Order and Progress)
Economy ———-
Economic overview: With its large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil has South America's largest GDP by far and has the potential to become a major player in the world economy. Prior to the institution of a stabilization plan in mid-1994, stratospheric inflation rates had devastated the economy and discouraged foreign investment. Since then, tight monetary policy has apparently brought inflation under control - consumer prices increased by 23% in 1995 compared to more than 1,000% in 1994. At the same time, GDP growth slowed from 5.7% to 4.2% as credit was tightened and the steadily appreciating real encouraged imports while depressing export growth. The increased stability of the Brazilian economy allowed it to weather the fallout from the Mexican peso crisis relatively well, with foreign funds flowing in during the second half of 1995 to swell official foreign exchange reserves past the $50 billion mark. Stock market indices in Sao Paulo and Rio de Janeiro, however, ended 26% lower in 1995. President CARDOSO remains committed to further reducing inflation in 1996 while boosting growth, but he faces key challenges. Servicing domestic debt has become dramatically more burdensome for both public and private sector entities because of very high real interest rates which are contributing to growing budget deficits and a surge in bankruptcies. Fiscal reforms, many of which require constitutional amendments, are proceeding at a slow pace through the Brazilian legislature; in their absence, the government is maintaining its strict monetary policy. Brazil's natural resources remain a major, long-run economic strength.