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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Glenn who wrote (4827)	1/3/1999 3:31:00 PM
From: Tim Luke	Respond to of 90042

what a soap opera

To: Glenn who wrote (4827)	1/3/1999 3:43:00 PM
From: Tim Luke	Read Replies (2) \| Respond to of 90042

Sunday January 3, 2:28 pm Eastern Time Financier Soros says Brazil a big worry at moment RIO DE JANEIRO, Jan 3 (Reuters) - Billionaire financier George Soros said in an interview published Sunday that Brazil was the big headache for the financial community at the moment, but that Russia and Indonesia were worse off overall. ''Brazil is in the eye of the storm. It is the most problematic situation in the world in the short term,'' Soros told Brazilian weekly news magazine Veja. Soros, who runs some of the most profitable investment funds in the world, said the Brazilian government was trying to manage the crisis, but it might not have enough Congressional support to push its austerity plan through. ''This is today a major worry in the international financial community, although in a broader sense, I would have to say that Russia and Indonesia are certainly in a worse situation.'' Brazil, in its most dire economic position in years, was brought to the brink of a currency devaluation after billions of dollars in foreign capital fled the country on widespread panic about emerging markets triggered by Russia's financial crisis in August. The International Monetary Fund (IMF) has stepped in with an emergency $41 billion credit line to stem the dollar outflow. But to rebuild investor confidence and meet targets agreed with the IMF, Brazil has get a tough fiscal reform package through its notoriously cranky Congress