Several years ago, the IMF and World Bank announced a joint project to reduce poverty in developing countries. The initiative was called the “Impact of the Global Financial Crisis on Brazil” (IFGIC). It is a government project to implement a global economic recovery plan through targeted investments. However, the program has faced criticism for being unrealistic and a waste of resources. In response to these concerns, the World Bank and IMF have stopped working with the governments of Brazil.
While Brazil is a huge country, its vast natural resources have resulted in extreme poverty for 22 million of its citizens. The country has a high Gini coefficient, but is still suffering from low economic growth. The Amazon basin is one of the world’s most diverse ecosystems, with a staggering range of animal and plant life. Despite the abundance of biodiversity, the country has a high rate of deforestation and high levels of crime.
Final Touch
With its vast natural resources, Brazil has an economic profile that can rival any other country in Latin America. As the core of Mercosur, Brazil has a rapidly expanding international presence. Its largest exports are vehicles, soybean, iron ore, and orange juice. It also has one of the world’s largest dams, the Itaipu Dam, and one of the cleanest energy matrices.
