Mexico City is the capital and largest city in the country of Mexico. Mexico City is also known as the Federal District (Distrito Federal), a federal entity within Mexico which is not part of any one of the 31 Mexican states in particular. Instead, it belongs to the federation. It is the most important political, cultural, and economic center in the country. Mexico City is also considered one of the two most important financial centers in Latin America, (the other being São Paulo, Brazil).