After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained growth. Indeed, it achieved unprecedented growth from 1960 to 1977. The rapid accumulation of debt due to persistent deficits and a fixed exchange rate policy during the 1970s...

Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994. This last period coincided with severe balance of...

This Selected Issues paper focuses on challenges and options for reform in Brazil. This paper discusses options to build on the new fiscal rule and enhance the fiscal framework. The new rule's focus on revenues carries important implementation risks, and consolidation that is more ambitious is...

The 2023 Article IV Consultation with Brazil discusses that growth is projected to moderate from 2.9 percent in 2022 to 2.1 percent in 2023. Strong buffers support resilience in the face of prevailing downside risks. On the external front, downside risks include an abrupt global slowdown, a...

Brazil’s economy has shown remarkable resilience amid the ongoing disinflation. Economic activity has grown steadily, surpassing expectations, reflecting favorable demand and supply factors. With proactive and adequately restrictive monetary policy, headline inflation has declined to the...