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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (1446)	10/7/1998 8:52:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Now here is some good news as if it matters <g>: Argentine official sees $35-50 bln Brazil package WASHINGTON, Oct 7 (Reuters) - Argentine Undersecretary of Finance Miguel Kiguel said on Wednesday that he expected an international package for Brazil to total $35-50 billion. Kiguel said the talk among the world's top finance officials at the IMF/World Bank annual meetings this week was that a package of between $35-50 billion dollars was being prepared for Brazil. The funds would be enough to restore confidence in the Brazilian currency, provided the government cuts spending by two to three percent of GDP, he said. "In my view that will be enough, assuming that there is a fiscal package of the type the Brazilians are talking of, somewhere between two and three percent of GDP in fiscal adjustment," Kiguel told Reuters Financial Television in an interview. "A package of that type would be sufficient to stabilize Brazil and if Brazil stabilizes, Latin America would return very rapidly to the markets," Kiguel said.