Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.896

-0.9%

Nov 21 9:30 AM EST

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To: Tony van Werkhooven who wrote (11956)	1/18/1999 3:10:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Cardoso: New forex policy does not justify price surge São José dos Pinhais, 18 - President Fernando Henrique Cardoso told entrepreneurs today that a hike in prices following the announcement of the country's new forex regime, see related story, would be an unjustifiable mistake. "Those thinking about taking advantage of the people at this moment should not be deluded about their success," he told reporters. He remembered the time when he was Brazil's Finance minister and the country had double-digit inflation. "We tamed it," he said. Cardoso is reputed as the creator of the Real Plan, which, among other important things, brought inflation down and stabilized the economy. "Brazil will not lose this opportunity. We ought to be prepared to assume our responsibility as Brazilians." (By Marli Olmos)

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