Country Program Evaluation: Brazil (2000-2008)

This Country Program Evaluation (RE-355) analyzes the recent performance of the Bank's portfolio of operations. Two country strategies were approved during 2000-2008, which were prepared in two very different contexts in Brazil. The 2000-2003 strategy was prepared following the 1999 crisis that had led to difficulties in terms of flows of resources to the country, high levels of debt, and macroeconomic uncertainties. The 2004-2007 strategy was approved when the government had the macroeconomic situation under control and an agreement had been reached with the Bank to reduce the amount of resources in the portfolio. This document describes the country context and development challenges, then discusses the program's contribution, and evaluates the execution performance and the results achieved.