Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.692

-2.0%

Dec 12 9:30 AM EST

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To: Steve Fancy who wrote (8591)	9/28/1998 10:51:00 PM
From: Steve Fancy	of 22640

Brazil Expects Intl Aid Total To Equal Financing Loss September 28, 1998 Dow Jones Newswires BRASILIA -- The total of an eventual international financial aid package for Brazil could possibly be based on a value which will offset expected future losses in foreign financial investments, a presidential spokesman said Monday. "The exact value and format of such a package depend entirely on the outcome of the annual meeting of the International Monetary Fund (IMF) starting Saturday," official presidential spokesman Sergio Amaral said at his daily press briefing. He said the expectation of the Brazilian government is that the amount might substitute international financing investments which Brazil will eventually no longer receive as a result of the current financial turmoil affecting the country. Falling just short of actually confirming the approval of an aid package, it is the first time that a spokesman for Cardoso came so close in giving any concrete details since the aid was mooted by market sources two weeks ago. Meanwhile, both the central bank and the Finance Ministry confirmed Monday that the Brazilian delegation to the IMF meeting will consist of some of the top executives of the government's economic management team. Central Bank President Gustavo Franco will be accompanied by his international affairs director Demosthenes Madureira Pinho Neto and Supervision Director Claudio Mauch. Finance Minister Pedro Malan will be assisted by International Affairs Secretary Marcos Caramuru, Economic Policy Director Amaury Bier and Treasury Secretary Eduardo Guimaraes. -By William Vanvolsem; (5561) 244 3095; wvanvolsem@ap.org

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