Telebras (TBH) & Brazil Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.800

-3.1%

Dec 2 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Steve Fancy who wrote (11270)	1/7/1999 12:28:00 AM
From: Steve Fancy	Read Replies (1) of 22640

World Bank Set to Approve $1 Billion Funding for Brazil Dow Jones Newswires January 7, 1999 WASHINGTON -- The executive board of the World Bank is likely to approve two loans worth a total of $1 billion for Brazil as part of the bank's contribution to the $41.5-billion rescue package unveiled last November. World Bank officials wouldn't comment on the details of the new loans, which are to finance a number of Brazilian social programs, but confirmed a decision on the loans is due Thursday. However, it is likely the loans will be issued under tougher terms than usual development-type loans, a change advocated by the finance ministers and central bankers of the Group of Seven leading industrialized nations in their joint statement of October 1998. The loans will be priced at an interest rate well above normal World Bank concessional rates and will have considerably shorter terms. Under the three-year financial rescue program arranged by the International Monetary Fund and supported by multilateral and bilateral lenders, the World Bank is to lend $4.5 billion to Brazil.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next