TREASURY'S BAKER CALLS FOR NEW BRAZIL PLAN
Treasury Secretary James Baker said
that Brazil should come up with a new economic plan if it hopes
to get additional assistance from commercial banks and others.
    In testimony before a House appropriations subcommittee,
Baker said that he had given that message to Brazilian
officials earlier this month when they met for talks in
Washington.
    He said that the so-called Cruzado Plan had worked for a
while, but that new efforts by the government are now required.
    Baker made it clear that he backed the decision by the
Paris Club official creditors to reschedule loans to Brazil,
even though the country later froze its payments to commercial
bank creditors.
    He said that the official loans are being serviced and that
this was a result of the rescheduling.
 Reuter
