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To: John Hunt who wrote (22936)	11/14/1998 5:27:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116762

U.S., IMF Announce Plan To Avert Brazilian Crisis washingtonpost.com << The International Monetary Fund and the Clinton administration yesterday unveiled a $41.5 billion loan package for Brazil, setting up a crucial test of their ability to halt the spread of global financial turmoil after similar rescues failed in Russia and Indonesia. The effort to stabilize Brazil's economy, the largest in Latin America, represents a major initiative to keep the region from succumbing to the financial panics that have struck Asia and other emerging economies during the past year and a half. Global financial officials fear that a Brazilian collapse would swiftly undermine investor confidence worldwide and send markets, which have recently stabilized, into another tailspin. The IMF's credibility, and that of its powerful backers at the U.S. Treasury, is on the line with this package as never before. Earlier rescue packages have drawn fire from critics for either being too protective of big-money investors or ineffective in halting panics. Announcement of the Brazilian plan was delayed for several weeks, which officials yesterday attributed to their desire to make sure the package was as bulletproof as possible. >>