Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.501

-3.2%

9:35 AM EST

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To: Steve Fancy who wrote (9461)	11/5/1998 3:01:00 PM
From: Steve Fancy	Read Replies (1) of 22640

IDB Iglesias: Confident Brazil Problems Will Be Solved Dow Jones Newswires NEW YORK -- The InterAmerican Development Bank stands ready to participate in a $30 billion to $40 billion aid package for Brazil, Enrique Iglesias, president of the bank, said Thursday. Speaking at a conference on "The Challenges Facing Andean Countries," Iglesias said he was "confident that the Brazil problem will be solved," and that the country will emerge from its current financial problems without a devaluation of its currency, the real. He also said that the IDB was studying a contingency credit line for well-managed economies to draw on in the event of global financial pressure.

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