Basic income in Brazil 25%. Quatinga Velho is a Brazilian village in the Quatinga district of the Mogi das Cruzes municipality, which is becoming well-known because of the basic income-project which is taking place there. The project started 2008 and is organized by the non-profit organization ReCivitas. The funding has so far been based entirely on private donations. In June 2011 83 people in the village got 30 Brazilian reals per person and month. The organization hopes that all people in the village will eventually get the basic income, and also that similar projects will get going in other villages in and outside Brazil.
Brazil financial crisis, the Russian default in 1998 and the series of adverse financial events that followed it, the Central Bank of Brazil temporarily changed its monetary policy to a managed-float scheme while undergoing a currency crisis, until definitively changing the exchange regime to free-float in January 1999. Brazil received an International Monetary Fund rescue package in mid-2002 of $30.4 billion, then a record sum. Brazil's central bank paid back the IMF loan in 2005, although it was not due to be repaid until 2006. One of the issues the Central Bank of Brazil recently dealt with was an excess of