IBC DETAILS PLANS TO PAY CREDITORS
The Brazilian Coffee Institute,
IBC, gave details of its plans to pay the 18 companies that
bought 630,000 bags of robusta coffee in the London market on
its behalf last September.
    An IBC spokesman told Reuters that a 15 mln dlr loan from
the Banco do Brasil would be used to pay five mln dlrs a month
in June, July and August to creditors.
    He said an auction of coffee would raise additional money
and added that a Reuter report on June 16 gave the wrong
impression that the auction was necessary to raise part of the
15 mln dlrs. No date has yet been set for the auction.
 Reuter
