Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.570

-4.5%

Dec 26 9:30 AM EST

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To: Steve Fancy who wrote (9607)	11/11/1998 4:26:00 PM
From: James C. Mc Gowan	Read Replies (2) of 22640

Question RE: Brazil local political scene Just picked up this thread. I had been looking for a parallel to the Asia Forum thread to follow events in Latin America. Thanks to all participants for useful info. It appears from todays reports that their may be significant opposition to the basket of reforms Cardozo needs approved . Is the current "delay" in funding by IMF, Exchange Stabilization Fund, et al. that was anticipated likely to be further delayed until at least the social security provisions are agreed to? Is it reasonable that the participants in the bailout are holding a gun to Brazils head, e.g. holding back final approval and transfer of funds, to Cardoza until such time as the legislation is passed on reforms? From the timetable for various reform bills continuing thru the end of this year and likely, into the next years legislative session, how much reassurance that reforms will be enacted will be necessary to free up the funds? TBR is split up early next week; Fed Reserve meets and may/may not cut further this meeting; Brazil legislators not showing up for votes; behind the scenes haggling over who will pay up for bailout money; Seems to me that this deal could go sour, at least short term, and short term is critical for Brazil/Latin America Any thoughts? vocex

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