Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.533

+2.5%

3:58 PM EST

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To: Steve Fancy who wrote (12177)	1/21/1999 3:26:00 PM
From: Steve Fancy	of 22640

Deputy USTR Fisher:Brazil Discipline Is Tough, Encouraging Dow Jones Newswires WASHINGTON -- Richard Fisher, Deputy U.S. Trade Representative, said Thursday that the discipline displayed so far by the Brazilian government in its handling of the current market crisis is "tough, strong and encouraging." Addressing the Chamber of Commerce, Fisher said he also welcomes comments by Brazilian President Fernando Henrique Cardoso that he will seek to keep prices down by reducing tariffs if such steps prove necessary. The senior trade official described Cardoso as a "well respected and cherished friend of the U.S." Fisher reiterated U.S. administration comments that Brazil must carry forward the implementation of a strong and credible program for economic and fiscal reform for it to emerge successfully from the current crisis. He added that with several governments in the South American region likely to see new presidents in near-term elections, stability in Brazil is all the more important to maintain investor confidence in the region. Fisher said that "present indications are not only that President Cardoso is up to the test ... but that he welcomes it."

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