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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (68099)	9/23/1999 4:12:00 PM
From: re3	Read Replies (1) \| Respond to of 132070

<<Ike, While the markets are up. not today...

To: Knighty Tin who wrote (68099)	9/23/1999 5:14:00 PM
From: Les H	Read Replies (2) \| Respond to of 132070

IMF not encouraging Ecuador to default-Camdessus WASHINGTON, Sept 23 (Reuters) - International Monetary Fund head Michel Camdessus said on Thursday the fund was not encouraging Ecuador to default on its private sector debt but that it was encouraging the country to find an amicable solution with its creditors. ``We are certainly not encouraging a country to default,' the IMF's managing director told a news conference ahead of the annual meetings of the fund and the World Bank. ``We are encouraging Ecuador to open a dialogue with its creditors to try to find a friendly and comprehensive solution to their problems.' ``This dialogue has started and this grace period in which Ecuador is now, I hope, has been used to narrow the gap between Ecuador and its creditors and we will see what finally is decided,' Camdessus added. >>>Meanwhile, Ecuador announced today it was 'safeguarding' >>>foreign currency accounts, etc. from seizure by lenders.