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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: Jay8088 who wrote (7647)	9/8/1998 1:26:00 PM
From: Steve Fancy	of 22640

Brazil's Malan Meets Cardoso To Discuss Crisis Dow Jones Newswires BRASILIA -- Finance Minister Pedro Malan was meeting President Fernando Henrique Cardoso late Monday night to discuss the current financial crisis, an official Finance Ministry spokesman said Monday night. He said the visit was not an official meeting and no other member of the Brazilian government's economic team is accompanying him at the presidential residence, or Alvorada Palace. The spokesman said no statement will be issued after Malan's visit. "The purpose of the visit is only to report to the President on last week's meeting between Latin American finance minsters and International Monetary Fund officials in Washington on the international market turmoil," he told Dow Jones Newswires. Earlier Monday - a public holiday - Cardoso denied at a press conference after an Independence Day ceremony that the government is preparing an emergency fiscal or economic package in response to the crisis. -By William Vanvolsem; (5561) 244 3095; wvanvolsem@ap.org The meeting between Cardoso and Malan ended just after 2330 GMT after they were joined by other top officials of the Finance and Planning Ministries. Participants identified as entering the presidential residence were, among others, the Finance Ministry's executive secretary Pedro Parente and Planning Minister Paulo Paiva, accompanied by advisors. Nor Malan nor the others made any comments when leaving the Alvorada Palace just before 2400 GMT. -By William Vanvolsem; (5561) 244 3095; wvanvolsem@ap.org

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