Meirelles tells Wall St Brazil is on right track

Brazilian Central Bank President Henrique Meirelles attempted to calm investor worries over Brazil on Wednesday 21 April by stressing that the economy would meet its fiscal targets for 2004.

"Our evaluation of the scenario is that there is no risk (that) Brazil will not meet its fiscal targets or any other targets for 2004," Meirelles told reporters in New York.

J.P. Morgan last week cut its recommendation on Brazil's bonds to "marketweight" from "overweight", citing doubts about the country's