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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (685)	9/22/1998 12:12:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 3536

Any thoughts as to the POG after this happens ?

To: Henry Volquardsen who wrote (685)	9/22/1998 3:59:00 PM
From: N	Read Replies (1) \| Respond to of 3536

To all, continuing the topic: brief comment from set of good articles in Economist 9/19 "....What fuelled this week's stockmarket rally [in Brazil] were rumours of a huge rescue fund for Latin American currencies. The truth was rather more modest. Brazilian officials have indeed been talking to the IMF and the American Treasury about setting up a contingency fund for LA, but no deals have been struck. Brazil's case is that nonwithstanding weaknesses such as large fiscal and current account deficits, it s being unfairly punished b/c of Russia's debt default. The offer of outside help could stop contagion spreading to LA, argues Pedro Malan, the finance minister, 'Sometimes the indication that there is a readiness to make available resources under certain conditions means they may not be '... ...Nobody should underestimate the determination of Brazil's officials to resist devaluation or controls on capital outflows, and their willingness to take the pain of tight money. 'This is our trench, and we're going to fight the battle here,' says Mr. Lopes [central bank monetary policy chief]. But determination alone may not be enough." Nancy