Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.550

+2.8%

Jan 9 9:30 AM EST

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To: Jerry A. Laska who wrote (7401)	9/2/1998 10:34:00 PM
From: Steve Fancy	of 22640

Mexico's Fin Min:Colombia Devaluation Causing "Jitters" Dow Jones Newswires NEW YORK -- The Colombian devaluation "is introducing a bit of the jitters in Latin American markets," Mexican Finance Minister Jose Angel Gurria told The Wall Street Journal in an article to be published in its Thursday edition. Gurria, expected to attend Thursday's special talks between Latin American economic ministers and the International Monetary Fund in Washington, told the newspaper that his country's healthy economy could eventually be undermined by "lack of discrimination" by global markets. The Mexican government is betting that interest rates boosted in defense of the faltering peso can be brought down fast enough to avoid damaging what is still a fairly robust economy. Gurria said Wednesday that the recent upsurge in Mexico's secondary market rates, from 18% to nearly 40% earlier this week, was a temporary phenomenon. But he acknowledged that it is "difficult to know" how long it would take before rates could be lowered. What is clear, he added, was that if rates remain high for a sustained period, it would have a "permanent impact."

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