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 (9668)	11/13/1998 12:33:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Clinton calls IMF deal for Brazil important step Reuters, Friday, November 13, 1998 at 12:04 WASHINGTON, Nov 13 (Reuters) - President Bill Clinton hailed a $41 billion international deal for Brazil as an important step in dealing with the global financial crisis. "A strong Brazil makes for a stronger United States, and today's announcement will help give both countries an opportunity to secure a brighter future," Clinton said in a statement. Clinton said Brazil has launched a solid program to tackle its fiscal problems. "Today's agreement between the International Monetary Fund and Brazil is an important step in our effort to deal effectively with the global financial crisis and protect American prosperity and jobs," Clinton said. He said the package will put Brazil "in a position to confront the financial turmoil that threatens growth not only in emerging markets, but in economies around the world." He said Brazil cut inflation from more than 2000 percent to single digits in less than four years, helped lift 13 million Brazilians above the poverty line, and achieved economic growth of 4 percent a year. Copyright 1998, Reuters News Service

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