Clinton says monitoring Brazil situation closely
Reuters, Wednesday, January 13, 1999 at 11:10
WASHINGTON, Jan 13 (Reuters) - U.S. President Bill Clinton
said on Wednesday he was monitoring developments in Brazil
closely and that his administration was working hard to help
Latin America's top economy overcome a deep financial crisis.
"We are monitoring the developments closely, especially
what is going on in Brazil," Clinton told reporters at the
White House. "We have been in contact with key Brazilian
government officials, the G7 and other important countries.
We've been in contact with the IMF."
Brazil effectively devalued its currency, the real, by
eight percent after its central bank governor quit, jolting
currency, stock and bond markets across the globe.
Clinton said he had been briefed on the situation in Brazil
and developments in world financial markets by Treasury
Secretary Robert Rubin and other members of his economic team
earlier in the day.
"Obviously we hope that the situation will be resolved in a
satisfactory way, not only for the people of Brazil, but for
all of the people in the Americas that want to continue to
enjoy the good progress that all of us have enjoyed in the last
several years," Clinton said. "And we're working hard to that
end and will continue to do so."
He added the United States had a "strong interest" in
seeing Brazil carry through with a tough program of economic
reforms agreed to as the basis for a $41.5 billion bailout put
together by the International Monetary Fund and approved last
month.
Copyright 1999, Reuters News Service |
