Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.507

-4.7%

12:57 PM EST

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To: Steve Fancy who wrote (8529)	9/25/1998 12:09:00 AM
From: Steve Fancy	Read Replies (1) of 22640

Brazil's Cardoso Gets Support Pledge From Germany's Kohl Dow Jones Newswires BRASILIA -- German Chancellor Helmut Kohl has pledged his support to Brazilian President Fernando Henrique Cardoso to overcome the South American giant's delicate financial situation, a Brazilian government spokesman said Thursday. Kohl sent a letter to Cardoso Wednesday affirming that "Germany will continue to collaborate actively to help Brazil and other Latin American countries withstand the current problems," spokesman Sergio Amaral said in his daily briefing. Kohl encouraged Cardoso to use "confidence-inspiring economic policy" as well as domestic reforms to restore faith in the financial markets, Amaral said. The German leader praised Cardoso for taking important measures to reduce the country's ballooning deficit. On Wednesday, Cardoso told the nation that the financial turmoil has made fiscal austerity "more urgent" and promised to cut public spending if he is re-elected in the Oct. 4 elections.

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