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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?


To: accountclosed who wrote (18226)2/5/1999 9:22:00 AM
From: MythMan  Read Replies (6) | Respond to of 86076
 
that is the name of the game. this was on there as well. Brasil does not have plenty of reserves..what a friggin liar.. dollars still leaving the country at rate of $500M a day.

>>Friday February 5, 6:11 am Eastern Time

Brazil capital outflow no cause for panic-Miyazawa

TOKYO, Feb 5 (Reuters) - Japan's Finance Minister Kiichi Miyazawa said on Friday that although Brazil was still experiencing large capital outflows, there was no need to panic as the country had a large pool of foreign exchange reserves.

''Money is still leaving the country but Brazil has considerable reserves and there is no need to panic,'' he told an Upper House finance committee in parliament.

He said that progress in solving Brazil's economic problems hinged on President Fernando Henrique Cardoso's ability to handle domestic affairs and that although the outlook was still unclear, he believed Brazil, the International Monetary Fund and the United States were doing their best.<<