Brazil papayas. The industry – from automobiles, steel and petrochemicals to computers, aircraft and consumer durables – accounted for 30.8% of the gross domestic product. Industry is highly concentrated in metropolitan São Paulo, Rio de Janeiro, Campinas, Porto Alegre, and Belo Horizonte. Brazil has become the fourth largest car market in the world. Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef. In total, Brazil ranks 23rd worldwide in value of exports. Brazil pegged its currency, the real, to the U.S. dollar in 1994. However, after the East Asian
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