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Politics : Clinton's Scandals: Is this corruption the worst ever? -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (6356)	9/18/1998 9:04:00 AM
From: DMaA	Respond to of 13994

OT - SA. Brazil, at least, has a powerful reason not to devalue. They just sold their share in the national telephone company (TBR) for billions of Reals which will be paid (in Reals ) over time. If they devalue, the Govm't looses billions. Plus the Govm't in power seems to understand economics, is moving in the right directions, and looks like it will be reelected this fall. Brazil is about the 11th largest economy in the world - just ahead of China in GDP. So goes Brazil, so goes S. A. If Brazil does devalue, S. A. is in the pooper for a generation.