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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (7232)	8/28/1998 9:36:00 AM
From: Petrus	Read Replies (1) \| Respond to of 22640

TBR up $2 1/2 !! Bovespa UP $3.42 %

To: djane who wrote (7232)	8/28/1998 10:41:00 AM
From: djane	Read Replies (1) \| Respond to of 22640

Bier insists Brazil is "not next in line" - rpt Aug/28/98 at 08h36 am ET Bras¡lia, 28 - The Finance Ministry's secretary of Economic Policy, Amaury Bier, said Brazil "is not the next country to collapse". He classified as "a useless and unnecessary exercise" the attempts to find out which country will be the next to be impacted by the international financial crisis. The secretary added that stock markets are currently jitterish worldwide as a result of the recent events in Russia. Bier went further saying the Brazilian stock markets downward trend should not have a strong impact in the country's economy, as the measures recently adopted by the Central Bank to boost the inflow of foreign capital were of utmost importance in tranquilizing the market. Bier highlighted the fact that Brazil is the only country showing the right conditions for a successful reduction in the current accounts deficit, which, according to him, the government was already able to reduce significantly. He pointed out, however, that a trade balance deficit reduction is key in maintaining the current accounts deficit down. The secretary explained that Brazil is now facing the challenge of competing against economies that are more aggressively trying to increase their exports. Bier claims that Brazil will be able to reach the target of exporting a volume equivalent to US$100bn by the end of 2002. (By Raquel Stenzel) Copyright c 1996 Agˆncia Estado. All Rights Reserved.