-----Mensagem original----- De: owner-lbo-talk at lists.panix.com [mailto:owner-lbo-talk at lists.panix.com]Em nome de Peter K. Enviada em: quinta-feira, 8 de agosto de 2002 22:22 Para: lbo-talk at lists.panix.com Assunto: Billions in Bailout for Brazil
[or the Golden Straightjacket. (Anyone ever see Los Straightjackets? They were Mexican wrestling masks and play surfer music.)]
http://www.nytimes.com/2002/08/08/business/worldbusiness/08LATI.html
I.M.F. Agrees to Loan of $30 Billion for Brazil By LARRY ROHTER with EDMUND L. ANDREWS
BUENOS AIRES, Aug. 7 — Confronted with the prospect of another financial meltdown in Latin America, the International Monetary Fund agreed today to a $30 billion rescue loan for Brazil. At the same time, Treasury Secretary Paul H. O'Neill was urging Argentina to move quickly to reach a similar accord, saying that the United States will not bail out the government and believes that additional reforms of the Argentine economy are needed. ...
The size of the package was nearly double what most Brazilian analysts had been predicting and requires the government to make almost no modification of its existing policies. But Brazil would not be able to use 80 percent of that money until 2003 — after the elections this fall.
The fund also noted that the agreement "could be" presented for approval by its full executive board in early September, but it gave itself room to delay approval if Brazilian officials do not provide enough assurances that policies will remain unchanged. ...
"Brazil is on a solid long-term policy trend which strongly deserves the support of the international community," the managing director of the I.M.F., Horst Köhler, said in a statement issued late this afternoon. In a reference to the contentious presidential election that is less than two months away and has generated market nervousness, Mr. Köhler also said that "the fund stands ready to support any government committed to sound policies." ... Originally, Mr. O'Neill's itinerary also called for him to tour a Ford auto plant in the Buenos Aires suburbs. But that visit was canceled, according to people close to labor unions here, because workers threatened to walk off the job in protest if Mr. O'Neill appeared. [end]
Those damn reactionary unions! Peter
-One more nail in our coffin!!!
Alexandre Fenelon