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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.435

+8.7%

Jan 2 9:30 AM EST

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To: posjim who wrote (9628)	11/12/1998 1:16:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Brazil, IMF Finalize Aid Package Terms-Local Media Reports Dow Jones Newswires SAO PAULO -- The Brazilian government and the International Monetary Fund have completed negotiations on a financial aid package for the beleaguered South American giant, local media reported Thursday. The Estado news agency quoted a member of the Brazilian team of negotiators as saying that all details have been resolved and that an announcement is possible, "even quite probable" on Friday. According to the report, the delay in the announcement of the package is only a result of careful reviews of the text of the agreement being carried out now. CBN radio also reported that the terms of the aid deal had been completed, but said that the official unveiling will be made next Tuesday by the Brazilian government in Brasilia. According to CBN, the international aid package will total "a little less than $42 billion."

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