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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (17021)	11/6/1998 10:22:00 AM
From: geewiz	Read Replies (1) \| Respond to of 18056

John, I saw this in the Nov 3 (Tuesday) Financial Times; For private use; Fears over Brazil Roll-over Brazilian officials are expected to ask directly for private sector support once a deal with International Monetary Fund and the G7 nations is completed. That agreement, expected as early as this week is to provide between $30bn and $50bn to bolster Brazil's external finances. Unofficial approaches are believed to have been made to leading commercial and investment banks, but there seems little appetite among financial institutions to lend more. "We feel comfortable with the exposure we already have, " said one New York institution. Even the large scale of the official package being discussed could fail to bolster the Brazilian currency if confidence does not return quickly to the financial markets, according to foreign economists. Foreign reserves have fallen from $75bn to $43bn since August said Geoffrey Dennis, emerging markets strategist at Deustche Bank Securities. "I think they're going to have real problems rolling over the foreign currency debt." Looks like the markets are not worried.... best, art