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

To: md1derful who wrote (11879)	1/16/1999 3:25:00 PM
From: Steve Fancy	Respond to of 22640

U.S. Summers:No Comment On Arrival At Frankfurt G-7 Dep Mtg Dow Jones Newswires FRANKFURT -- U.S. Deputy Treasury Secretary Lawrence Summers declined to comment when he arrived in Frankfurt Saturday to attend the meeting of deputy finance ministers from the Group of Seven industrial countries. Asked whether he had any comment on the nature of the meeting or the situation in Brazil, Summers simply gestured that he wouldn't comment. He also didn't comment on whether he would make a statement after the meeting, which was originally organized as a planning session for the G-7 Finance Ministers meeting in Bonn on Feb. 20. Neverthless, Saturday's meeting has taken on new significance since the Brazilian central bank was forced to widen the band around which the real trades against the dollar, and subsequently float the real on Friday. Friday, Treasury Secretary Robert Rubin said that Summers will also meet with Brazilian Finance Minister Pedro Malan and Central Bank President Francisco Lopes over the weekend.