Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.520

+2.5%

Jan 7 3:59 PM EST

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To: md1derful who wrote (7680)	9/9/1998 3:16:00 PM
From: Steve Fancy	of 22640

Argentina's Kiguel backs Brazil's fiscal measures Reuters, Wednesday, September 09, 1998 at 12:12 BUENOS AIRES, Sept 9 (Reuters) - Argentine Undersecretary of Finance Miguel Kiguel was quoted Wednesday as saying the measures announced by Brazil to trim its fiscal deficit were a "positive signal" amid financial market turmoil. Kiguel told La Nacion daily that the Brazilian measures were "in the right direction." Brazilian Finance Minister Pedro Malan said Tuesday the government hoped to reduce the country's dependence on foreign savings and raise domestic savings in order to reduce the fiscal deficit. More immediately, the government said it was going to cut the federal budgets for 1998 and 1999 in a bid to reduce the public sector budget deficit, seen as one of Brazil's most pressing economic problems. buenosaires.newsroom@reuters.com)) Copyright 1998, Reuters News Service

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