Show Brazil to talk to Brazil (AP) — BraBRASILIA zil will resume paying interest to overseas banks holding most of the nation's $108 billion foreign debt after it negotiates with the banks Foreign Minister Dilson Funaro said Saturday “We didn't break any contractual clauses” he said “We’re suspending remittance during the period of negotiations" Brazil owes about $70 billion to foreign private banks $10 billion to foreign governments and $28 billion to international lending agencies The biggest creditors are US banks such as Citibank Chase Manhattan and Morgan banks before repayment Guaranty y On Friday President Jose declared that Brazil would suspend indefinitely interest payments to foreign banks He said Brazil was buying time “to avoid political instability recession unemployment and social crisis" Funaro told reporters here that the suspension of interest payments was in the works I Vi years ago and will last as long as it takes to reach an agreement with the banks Negotiations will begin in two or three weeks and after that a renewal of payments could begin “in a week or five months depending on how long negotia ble 25 percent of the debt" Funaro said Sarney said the central bank’s reserves protective were only $396 billion down from $78 billion when he took office in March 1985 Funaro said Brazil has an obligation to defend the reserves “This is important for the nation and is important for the international financial system" he said “Brazil will not fulfill its foreign obligations at the cost of recession” The reserves fell with the failure of an plan Sarney announced a year ago tions last” he said Funaro would not give details on Brazil’s position for the negotiations but he said Brazil still will not deal with the International Monetary Fund Brazil has refused to deal with the IMF because it claims the financial institution monitors internal economic progress “This is often the case with the IMF" he said “It monitors the economic recuperations of a country that has an internal crisis totally isolated from the international picture” Brazil has paid $25 billion in interest representing an “incredi Shop weekdays World briefs 10-- 9 Debt Nation The plan succeeded at first but Brazil later had widespread product shortages as people bought up existing goods at government-froze- n prices r Mexico The countiy had to resort to and the emergency imports healthy trade surpluses that once helped pay interest on the foreign debt dipped to 15 percent of past Argentina Funaro one of the main authors of the plan maintained the economic measures were succes-fin holding back an inflation rate that threatened to reach 500 percent by the end of 1986 Chile ""I $26 Nigeria Philippines levels Saturday ftHtlions) Brazil 2ol Peru I $8 Ecuador Associated Press 10-- 7 leader criticizes UN veto LONDON (AP) — The president of Britain’s Movement said Saturday it was morally indefensible for Britain and the United States to veto UN sanctions against South Africa Bishop Trevor Huddleston said Prime Minister Margaret Thatcher and President Reagan “have not only chosen to defy the expressed will of the great majority of the nations of the world but are equally at odds with public opinion in their own countries" Noritake sets place settings & open stock 200oto400°off Britain and the United States used their veto power in the United Nations Security Council on Friday to block mandatory worldwide sanctions against the white-legovernment of South African President PW Botha $48 Midnight Majesty china A Reg $64 place setting in Noritake’s Imperial Baroque Ivory a formal reflection of old world elegance and charm Begun family awaiting his return to Moscow MOSCOW (AP) — Jewish activist Josef Begun spent his first full day out of prison in more than three years on Saturday and family members said he planned to return to his Moscow home within the next two days Sweet Leilani china B Reg $50 setting in the series place Legendary China $30 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