Brazil will resume talks today with its...
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Brazil will resume talks today with its 14-member commercial bank advisory committee over a medium-term financial package that bankers say will give Brazil a chance to show if it can change its hard-line stance. Bankers believe Brazil, which is struggling to control inflation that hit a record high 366% in 1987, is anxious to reach a solution so it can concentrate on other economic and political problems. Last month, Finance Minister Luiz Carlos Bresser Pereira resigned after repeated clashes with President Jose Sarney, especially over how to handle the huge public deficit. Brazil infuriated the banks about a year ago when it suspended payments on its $113-billion commercial bank debt because of dwindling reserves.
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