Amadeusz Juskowiak

Funaro rejects suggestion of imf brazil plan

Brazilian Finance Minister Dilson Funaro flatly rejected a UK Suggestion that his country seek International Monetary Fund IMF help in order to facilitate debt negotiations with commercial creditor banks

Talking to reporters Funaro said this attitude would not help resolve the crisis started when Brazil suspended indefinitely interest payments on 68 billion dlrs in external debt on February 20

Funaro was in Britain on the first leg of a tour of European capitals to explain the motives of the Brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations

Reuter