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

To: Steve Fancy who wrote (8655)	9/30/1998 3:04:00 PM
From: dougjn	Read Replies (2) \| Respond to of 22640

If Brazil really does cut its deficit significantly, and quickly, some very good things could result. The cynicism expressed in that theStreet.com article about the Brazo tendency to avoid political/fianancial responsibility whenever they think it conceivably possible, is not without some reason. Though maybe Cardoso really is leading Brazil towards a different way. With some early strong successes that are now threatened if they don't continue on the reform course. Doug

To: Steve Fancy who wrote (8655)	9/30/1998 3:15:00 PM
From: Steve Fancy	Read Replies (11) \| Respond to of 22640

Brazil Govt Again Denies Fiscal Package After Election September 30, 1998 Dow Jones Newswires BRASILIA -- For the second time within 24 hours a top Brazilian government executive quashed persistent market rumors of a tough fiscal package to be announced right after next Sunday's elections, the Estado news agency reported Wednesday. "Such a post-election package doesn't exist," the Finance Ministry's executive secretary Pedro Parente told Estado. As reported, Tuesday night presidential spokesman Sergio Amaral guaranteed that "the population won't be surpised by a post-election package". Cardoso is widely expected to be re-elected for a second four-year term in a landslide victory next Sunday. Market watchers and political analysts are predicting a massive fiscal adjustment package, including a possible tax hike, to be announced next week in response to the current financial turmoil battering Brazil. Parente said that the government's economic management team is only working on proposals "to define measures of a permanent and positive nature". He didn't give further details. At his daily press briefing on Tuesday, Amaral said that the government is elaborating fiscal measures "to be applied over the next three years". -By William Vanvolsem; (5561) 244 3095; wvanvolsem@ap.org