Brazil's Fraga hopes for IMF deal by 12 Aug

BRAZIL - Brazil's Central Bank President Arminio Fraga said on Tuesday he expected the country to clinch a much-awaited deal with the International Monetary Fund, by 12 August, that should help calm pre-election market jitters.

Fraga also told Globo television the unspecified agreement could cover the period until the next administration takes charge in January 2003 or beyond.

"Our intention is to complete the (negotiations) process by 12 Aug," he said. A Brazilian mission begins talks in Washi