FUNARO REJECTS SUGGESTION OF IMF BRAZIL PLAN
Brazilian Finance Minister Dilson Funaro
flatly rejected a U.K. 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
