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To: Joseph G. who wrote (14639)	9/6/1998 2:25:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

If this guy (Ackerman) is impressed with Neil Cavuto, then I have to say I find it really difficult to take his (Ackerman's) opinion seriously. (By the way, there is now a "thread" on SI where people discuss CNBC). Jon.

To: Joseph G. who wrote (14639)	9/7/1998 11:16:00 AM
From: Greg B.	Respond to of 152472

Joseph, A "global crash" doesn't sound PC. How about a "correction"? This event has been predicted for years so we'll see how the global leaders will attempt to pilot a soft landing. Regards, Greg B. Venezuela holds line on devaluation -- Izaguirre WASHINGTON, Sept 3 (Reuters) - Venezuela plans no ''macro-devaluation'' or any changes in its foreign exchange controls, Finance Minister Maritza Izaguirre said Thursday, despite widespread speculation it may devalue the bolivar. ''We are not going to do some macro-devaluation, and we are not going to change our exchange controls. We are very clear on that message,'' she told reporters after a meeting at the International Monetary Fund on the impact of the world financial turbulence on Latin America. She said a de facto devaluation in neighboring Colombia would not necessarily put more pressure on Venezuela to devalue its currency, and that the government has taken steps to allow more movement in the bolivar's trading band. ''In the last months we have been increasing...the movement within the band,'' she said. ''We have a strong commercial relationship with Colombia and if Venezuela devalues, the impact on Colombia is much larger than vice versa,'' said Izaguirre. Colombian Finance Minister Juan Camilo Restrepo would travel to Caracas over the weekend to ''discuss the situation,'' she said. Rumors of devaluation have been dogging the bolivar in recent weeks and rating agency Standard & Poor's said Thursday the currency was ''extremely overvalued'' and predicted a devaluation in the coming months. Izaguirre criticized reports by rating agencies downgrading Venezuela's key financial ratings, including a Moody's Investors Service report downgrading the country ceiling for foreign currency bonds and notes and for foreign currency bank deposits. She said the reports ignored the government's campaign to enact a package of reforms aimed at shoring up Venezuela's fiscal position and restoring confidence in the economy. ''It was a surprise for us because remember we had a downgrade about a month ago,'' she said. ''They don't take into account the different efforts we have made in the last seven weeks, working very hard with Congress trying to produce the new set of laws.'' The new ratings ''were unexpected for us, and one of the concerns at this meeting has been the role of the (rating) agencies,'' said Izaguirre. The Moody's and S&P reports were issued while top Latin American finance officials met with IMF officials and U.S. Treasury Secretary Robert Rubin. Several ministers later lambasted both the content and timing of the reports. She said President Rafael Caldera expected to sign the battery of reforms within the next 45 days, and that, even without the reforms, the government had enough resources to meet its debt obligations for the rest of the year. ''We have enough internal resources to accomplish the service and the capital of the debt in 1998,'' she said.