Telebras (TBH) & Brazil Message Board

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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 (9649)	11/12/1998 6:25:00 PM
From: Fred Levine	Read Replies (1) of 22640

Steve and all-- This may be good news, and we can use it.. Thursday November 12, 5:43 pm Eastern Time Brazil likely to sign up for IMF package Fri-govt BRASILIA, Nov 12 (Reuters) - Brazil's government will probably sign a letter of intent with the International Monetary Fund Friday, finalizing the terms of a multibillion- dollar credit package, the Finance Ministry said Thursday. ''It's probably going to be signed tomorrow,'' said a ministry spokesman. Earlier Thursday, officials involved in the talks in Washington said they might announce Friday a package of emergency loans of up to $45 billion to stop Latin America's biggest economy from succumbing to a Russia-style devaluation. The package is expected to include as much as $18 billion in credit from the IMF, $4.5 billion from the World Bank, $3.4 billion from the Inter-American Development Bank and billions more dollars from the United States, Japan and other nations. The ministry spokesman said the announcement of the terms of the deal would be made simultaneously in Brasilia and Washington after the signing of the letter of intent. Finance Minister Pedro Malan would then probably travel to the United States Monday to speak to investors about Brazil's economy, followed by further speeches Tuesday in Germany and either France or Britain. fred

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