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

To: TokyoMex who wrote (8312)	9/18/1998 5:24:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Looks like TBR closed at 74 on the Pacific. She could be ready for another 10-15 point run. sf

To: TokyoMex who wrote (8312)	9/18/1998 5:25:00 PM
From: Steve Fancy	Read Replies (4) \| Respond to of 22640

IADB president confident LatAm will overcome crisis Reuters, Friday, September 18, 1998 at 17:11 GUATEMALA CITY, Sept 18 (Reuters) - The president of the Inter-American Development Bank (IADB) said on Friday Latin America's large economies had taken swift action that would allow them to overcome global economic crisis. "Latin America is reacting to these problems with great diligence and seriousness ... and for that reason I am confident that Latin America will overcome this crisis," IADB President Enrique Iglesias told a news conference in Guatemala City. Iglesias was in Guatemala to sign an IADB loan of $15.4 million for education projects, and to evaluate government progress in increasing tax revenues. Guatemala has promised to increase taxes and improve tax collection in order to receive international aid for peace programs. Iglesias was not asked about and did not confirm unofficial reports that the Inter-American Development Bank is likely to approve next week a record-breaking $1.1 billion loan to troubled Brazil. Guatemala, which has low foreign debt and a minuscule stock market, has been protected from the financial storm sweeping across Latin America. But larger economies in the region have seen their currencies depreciate and concerns have been raised about their ability to continue servicing huge debts. Iglesias said the largest economies in the region, Brazil and Mexico, had reacted swiftly to the crisis by "handling interest rates, increasing taxation, and reinforcing reserves." According to Iglesias Latin America will have better hope of surviving the crisis unscathed if the principal markets for the region's projects maintained healthy economies. "It is very important that Europe and the United States maintain their economies as dynamic as they are now. That protects us," Iglesias said. Copyright 1998, Reuters News Service