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 (8596)	9/29/1998 12:56:00 PM
From: Steve Fancy	of 22640

U.S. Trade Official Praises Brazil's Fiscal Reform Efforts Dow Jones Newswires BRASILIA -- The U.S. government is pleased with Brazil's commitment to fiscal austerity and is keeping a close eye on what measures the Latin American giant will implement to stop the current market crisis from deepening, a top U.S. trade official said Tuesday. U.S. Deputy Trade Representative Richard Fisher spoke with reporters after a meeting Tuesday with Brazilian Finance Ministry executive secretary Pedro Parente. "The ministry gave us some insight on the measures that could be taken," Fisher said, without providing specifics. "We're watching very closely and we're eager to be helpful." Last week, President Cardoso, who is expected to win reelection next Sunday, pledged to tackle Brazil's burgeoning public deficit. Market analysts predict that the belt-tightening measures will be unveiled shortly after the election. The U.S. official also praised Brazil's efforts at structural reforms in recent years. "Brazil has made more progress than most Asian countries in terms of transparency and efficiency," Fisher said. "A good (Brazilian) government is under attack by what's happening on financial markets." "The whole world is watching Brazil," he added, noting that Brazil's stability is crucial for the U.S.. - By Stephen Wisnefski; (5511) 813-1988; swisnefski@ap.org

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