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Brazil's President Visits U.S.

May 10, 1999|Bloomberg News

Brazilian President Fernando Henrique Cardoso is visiting the U.S. this week in a bid to rally support for his economic program and lure investment to help boost his country's flagging economy. He will address the United Nations Foundation, the U.S. Chamber of Commerce and an Export-Import Bank conference. He also will meet with Inter-American Development Bank President Enrique Iglesias and could meet with President Clinton before he heads to New York on Wednesday, where he will address the Economic Club. Cardoso's visit comes as Brazilian officials are stepping up their meetings with investors, trying to gain support for a recently signed program with the International Monetary Fund aimed at cutting Brazil's budget deficit and slowing inflation after January's currency devaluation. They've had some success as capital has flowed back into the country, the currency has steadied and interest rates are falling.

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