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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: NucTrader who wrote (4040)	10/9/1998 11:26:00 PM
From: Grommit	Read Replies (1) \| Respond to of 14427

IMF rescue plan... You'd better read the latest edition of Business Week. (The online issue requires a subscription, so no link, & I have paper copy). Get your butts to the magazine stand. Article titled Piece by Piece, A Plan? .... If the IMF can stabilize Brazil, will a turnaround for the rest of the world begin?" Thay may be a strech to call the world rescued, but they detail the things pending to rescue brazil and latin america. Mid-October rollout of the package says citibank vice chairman W. Rhodes. $30 billion to brazil. Lines of credit to sound economies to make a firewall. Also "hopes" for a Regional defense fund with contribution from world's largest banks "to protect the rest of latin america from contagion". Citibank says "Brazil it the rubicon in the sense or restoring confidence". Possibly the most significant thing, they say, is the U.S. softening its position. IMF to allow controls to slow funds flows and to back away from harsh demands of budget and market reforms. Other european countries to lower interest rates -- "as indicated by Bundesbank President" to 3.3% when new European Central Bank takes over jan 1. (that must be the euro I guess). AlanG and european counterparts already "leaning on bankers to keep cash in developing countries with sound economies, such as Argentina, Chile and Mexico." And getting tough on the lenders, demanding that they get financilly clipped for the bad loans of the past. The article is quite upbeat, although they mention the risks and mention Ukraine as the next trouble spot. But as this gets implemented, whether it works or not, the next few weeks will be encouraging to the financial markets. Hold on to your seats next week.