Brazil is Latin America’s largest market, the world’s fifth-most populous country, and the world's tenth-largest economy in GDP terms (Economist Country Briefings: Brazil 2009). Brazil has surpassed Canada as the second largest economy in the hemisphere and accounts for 60% of Latin America’s economy (Wittman 2009). Throughout the 1990s, Brazil's financial services industry was overhauled and is currently sound (CIA World Factbook - Brazil 2009; U.S. Department of State Country Background Note: Brazil 2009). Because of the government of Brazil’s ownership stakes in the major banks and mortgage lenders, the credit crunch that has affected the United States has not been as much of a factor for Brazil (Economist Country Briefings: Brazil 2009). Inflation has been tamed and between 2005 and 2007 has averaged 4.1% (2009 Index of Economic Freedom). Public sector debt is below 40% of GDP and most public borrowing is done in Brazilian Real-denominated loans. Brazil has almost $200 billion of foreign currency reserves (The Economist Magazine: Mar 5th 2009).