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

To: Steve Fancy who wrote (9168)	10/26/1998 3:22:00 PM
From: Steve Fancy	Read Replies (4) \| Respond to of 22640

This news seemed to take UBB down... White House Says No Decision Yet On U.S. Funds For Brazil Dow Jones Newswires WASHINGTON -- The Clinton administration reiterated its belief in the importance of maintaining the stability of the Brazilian economy but said no decision has been made on what the U.S. government will do to help ensure this stability. The International Monetary Fund and other international lenders are moving towards putting together a bailout package for Brazil. However, it is unclear if the U.S. government will take part in this effort. "There have been no specific decisions on what role, if any, the U.S. government will play," said White House Spokesman Joe Lockhart. Lockhart said the administration is debating what role the U.S. can play in helping Brazil, but there is agreement within the administration that preserving economic stability in Brazil is crucial to the world economy. Brazil has been buffeted by investors who have become increasingly nervous about their investments in developing economies in the wake of the Asian financial crisis. The White House fears that if the Brazilian economy begins to deteriorate it will take the rest of Latin America with it. -By Alex Keto; 202 862 9256