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

To: Steve Fancy who wrote (9203)	10/27/1998 4:28:00 PM
From: TokyoMex	Read Replies (2) \| Respond to of 22640

To be or not to be,, We wait for Mr. C to declare yay or nay on devaluation ,, Will IMF demand a devaluation for 30 bill ?

To: Steve Fancy who wrote (9203)	10/27/1998 4:52:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Rubin says Brazil doing good job on reforms Reuters, Tuesday, October 27, 1998 at 16:24 WASHINGTON, Oct 27 (Reuters) - U.S. Treasury Secretary Robert Rubin said on Tuesday that Brazil was doing a good job on economic reforms, but he declined to comment on whether Washington would contribute to an expected financial package. "Brazil is very important for the United States, the hemisphere is very important for the United States," Rubin told reporters after a meeting with Colombian President Andres Pastrana. "(Brazilian President Fernando Henrique) Cardoso is going a very good job on reforms." Cardoso is expected to unveil the broad outline of a new fiscal plan later on Tuesday and full details of the plan are due on Wednesday. The proposals, expected to include budget cuts, tax increases and other measures, should pave the way for an international rescue package of an estimated $30 billion, including up to $15 billion from the International Monetary Fund. Market analysts expect the United States to contribute bilateral funds to the package for Latin America's largest economy, but Rubin declined to comment on whether this was likely or on whether the deal was being delayed. A U.S. contribution could come from Treasury's special Exchange Stabilization Fund, but might raise hackles in Congress, where Republicans resent Rubin's ability to tap this fund without seeking approval from the legislature. 898-8383, washington.economic.newsroom@reuters.com)) Copyright 1998, Reuters News Service