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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.404-14.1%Dec 31 3:59 PM EST
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To: Steve Fancy who wrote (9024)10/16/1998 12:05:00 AM
From: Steve Fancy  Read Replies (2) of 22640
 
IMF Will Meet With Brazilian Officials
Soon - Fischer

Dow Jones Newswires

HONG KONG -- Brazilian authorities will be meeting with officials of the
International Monetary Fund soon, said the fund's first deputy managing
director, Stanley Fischer.

In a teleconference broadcast from Washington to reporters in Hong
Kong and Singapore, Fischer said "that will happen in the coming days to
discuss the final details of their economic program."

President Fernando Henrique Cardoso's address next Tuesday "is part of
the ongoing agreement with reaching an agreement with the Brazilians on a
support package in support of what they are doing."

"The Brazilians have made it very clear that they want this to be their
program, one that we can support. They don't want it to be the IMF
dragging them along. We're not doing. They know what needs to be done
and they are planning to do it. It is something we will be able to support,"
Fischer said.

As reported, weekend meetings are planned at the IMF with Brazilian
Finance Ministry executive secretary Pedro Parente, ministry economic
policy director Amaury Bier and Central Bank economic department head
Altamir Lopes. The Brazilian government said they discuss mechanisms of
possible financial assistance from the fund.

-By James T. Areddy; jareddy@ap.org; 852.2802.7002
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