Brazil

Brazil has paid the price of being “integrated” into the global economy. As foreign investors and speculators pulled out, the securities markets slumped and the currency was sharply devalued. The Government’s response has been somewhat timid, with expenditure lower and slower than needed. Brazil still may be able to ride out the crisis if the Government rises to the challenge, however. Meanwhile, the world economy has a unique opportunity to promote environmentally sustainable growth strategies and new rules for making financial systems work for development and the redistribution of income and wealth.

For the second installment of our “Spotlight On…” column, which highlights the innovative work of organizations that make up Social Watch coalitions around the globe, this month we will put a focus on the Social Watch coalition in the host country of this year´s World Social Forum, which will take place on the shores of the Amazon River in the city of Belem do Para, Brazil.

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