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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.834+4.2%3:59 PM EST
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To: dougjn who wrote (8652)9/30/1998 2:52:00 PM
From: Steve Fancy  Read Replies (2) of 22640
 
Well Doug, let me first say that I don't offer many opinions around here anymore unless asked. Lord knows (you too) that I've been wrong or didn't forsee a couple of situations that led to this mess.

Second I agree with Mark's response to you. I also am confident they'll get the SS reform into law quickly after the elections. Cardoso was falling short by a small margin on these votes earlier in the year (all this excitement is detailed in explicit detail waaay upthread). I have to believe that some of these guys have had the fear of god put in them...IMF or no IMF. In fact, if whatever loans are presented to Brazil are only tapped if and as necessary, pushing these reforms through will likely help eliminate or reduce the need for outside funding. additionally I hope to see the amendments to the SS reform bill lost earlier in the year put back through as amendments to the law and pushed through (supposedly much less voting then amending the bill). I believe Cardoso means business, and assuming that first round win (hopefully by significant majority) believe he will also quickly detail new plans.

Japan does nothing, Russia goes backwards. This is not Japan or Russia and I hope the next few months will validate that.

regards,

sf
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