Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.692

-1.9%

Dec 12 3:59 PM EST

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To: TOPSID877 who wrote (6651)	8/13/1998 6:57:00 PM
From: EPS	of 22640

Asian crisis pressures Brazil to issue bonds Sao Paulo, 13 - The Asian crisis has prompted the Brazilian government to issue more securities lately. As a result of higher interest rates and shorter Treasury and Central Bank bonds maturity terms, the government was forced to issue R$162.1bn in the period from January through July alone. Yesterday, the government sent the Congress a bill requesting authorization for the issue of an extra R$68.3bn in public securities aimed at refinancing federal securities debt. Real Plan 2 Finance Minister, Pedro Malan, denied yesterday that the government has prepared a Real Plan 2 in order to stave off the effects of the international crisis. Malan believes that Brazil is significantly better prepared nowadays than it was in October last year. "Just observe the future foreign exchange markets and the interest rates", he justified. Exports The worsening of the Asian crisis could affect one of President Fernando Henrique Cardoso's main goals for an eventual second term of office -- boost exports to US$100bn by the end of the year 2002 -- Cardoso's re-election campaign coordinators estimate. (O Estado de S. Paulo/ Jornal da Tarde/ Folha de S.Paulo/ Jornal do Brasil/ O Globo)

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