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

To: Steve Fancy who wrote (8721)	10/1/1998 4:20:00 PM
From: Steve Fancy	Respond to of 22640

IMF ready to support a Brazil program - Camdessus Reuters, Thursday, October 01, 1998 at 15:22 WASHINGTON, Oct 1 (Reuters) - International Monetary Fund Managing Director Michel Camdessus repeated on Thursday that the fund is ready to provide financial support to Brazil if and when the country requests it. "We are ready to give support if necessary, provided the country comes with a program we can support," Camdessus told a news conference. Camdessus declined to comment on the extent of financial support the IMF would be prepared to extend to Latin America's largest economy, whose currency has been under great strain. "Brazil must tell us what they expect from us," he said. Camdessus said the IMF supported the policies of President Fernando Henrique Cardoso, who said last week he will be announcing an economic program after Sunday's election, in which he is expected to easily win reelection. "We support his policies," Camdessus said. Camdessus said the IMF's financial support would be tailored to facilitate the Brazilian government's economic program of fiscal discipline. Asked whether such a program ran the risk of plunging Brazil into recession, Camdessus said the growth of the Brazilian economy would depend on the program itself and its mix of fiscal and monetary polcies. Camdessus dismissed any comparison with the Asian crisis, saying Brazil had embarked on structural reforms years ago. washington.economic.newsroom@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (8721)	10/1/1998 4:23:00 PM
From: Steve Fancy	Read Replies (3) \| Respond to of 22640

Brazil's Cenbank buys dollars at 1.1760 reais Reuters, Thursday, October 01, 1998 at 16:07 SAO PAULO, Oct 1 (Reuters) - Brazil's Central Bank bought dollars at 1.1760 reais at an auction in the commercial forex market to suppress a rising real and keep it trading within the current reais-dollar mini-band, dealers said. The current mini-band was set on Wednesday at between 1.1760 and 1.1870 reais per greenback. The real's strength was attributed to dollar inflows, which dealers said came in as foreign buyers of recently-privatized Brazilian assets paid for their purchases. Copyright 1998, Reuters News Service