BRAZIL BUSINESS LEADERS CALL FOR TALKS WITH IMF
Brazilian business leaders attending
a weekend meeting with President Jose Sarney called on the
government to seek help from the International Monetary Fund
(IMF) in resolving its debt problems.
    The government has so far rejected suggestions that it let
the IMF play a role in rescheduling its 109 billion dlr debt,
the biggest in the Third World.
    Finance Minister Dilson Funaro has said an IMF program for
Brazil, adopted four years ago, caused a recession and he
believes another IMF program would stifle growth.
    Sarney last month suspended interest payments on Brazil's
68 billion dlr commercial debt, a move which has found little
favour among the country's business community.
    Several businessmen called for a return to the IMF, arguing
this would give the country access to new funds and allow the
economy to grow. Both sides in the IMF debate say the course
they favour will enable Brazil to avoid recession.
    "We have to discuss the foreign debt like Mexico does, if
necessary going to the IMF," Mario Amato, president of the Sao
Paulo State Industries' Federation, was quoted as saying.
     An about-turn on the IMF issue would be politically very
difficult for the Sarney government and there are no firm
indications such a policy reversal is in the offing.
    The person most closely associated with the anti-IMF stance
is Finance Minister Dilson Funaro, who was not present at
yesterday's meeting. Brazilian newspapers highlighted his
absence and reported that several of the 24 businessmen present
seized the opportunity to tell Sarney they would like to see
Funaro leave his job.
 REUTER
