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

To: Fernando Saldanha who wrote (11333)	1/9/1999 2:03:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Fernando, thanks for the heads up. I assume the 34.5 billion does not include the 9 billion they recently received from the IMF. Why do they keep factoring out that cash that if I understand was added directly to the Central Bank's reserves? Do you feel a devaluation is likely? If so, where do you think they may go with it...10%, 15%? What immediate impact do you feel this would have? Seems that many Brazilian stocks are already trading at 50% of any reasonable value. Thanks, sf