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To: Boplicity who wrote (90167)	1/20/1999 10:28:00 AM
From: Mohan Marette	Respond to of 176387

<Brazil> No Currency Board,no domestic debt restructuring-No need. Wednesday January 20, 10:11 am Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Brazil will not restructure domestic debt -- Malan NEW YORK, Jan 20 (Reuters) - Brazil will not restructure its domestic debt and has no plans to adopt a currency board, said Finance Minister Pedro Malan. ''We are not going to have any domestic debt restructuring,'' Malan told reporters after a meeting with about a dozen commercial bankers at the Federal Reserve Bank of New York. ''There is no need for such a thing.'' Brazil is committed to a floating exchange rate for the real, having devalued the unit last week, and will not intervene in the market to support the currency, Malan said. ''The issue of Brazil adopting a currency board was raised over the last several months in Brazil. We explained the reason why we don't think it is an appropriate exchange regime for Brazil,'' Malan said. ''We have decided to go for a floating exchange rate regime. This is the regime we are going to have. It requires a stronger fiscal and active monetary policy. And this is what we are going to have in Brazil,'' he added. (Note: this article is ''in progress''; there will likely be an update soon.)

To: Boplicity who wrote (90167)	1/20/1999 10:29:00 AM
From: Ashley Campbell	Respond to of 176387

MARKETS STABLE BUT REMAIN FRAGILE -- GREENSPAN