International monetary officials said an accord may be unveiled on Friday or early next week, assuming IMF and Brazilian negotiators finalise a letter of intent laying out the country's policy commitments.

In a sign an agreement was imminent, the Clinton administration has begun briefing lawmakers and congressional staff on the plan, which is expected to include billions of dollars in bilateral assistance from the United States, Japan and other industrial nations.

By briefing officials on Capitol Hill, the administration hopes to minimise any backlash over US participation in the Brazil aid package. The IMF-led package will also include fast-disbursing emergency loans from the World Bank and the Inter-American Development Bank.

Brazil needsinternational support to stop investors from pulling their money out of the country's financial markets and to stave off fears of a devaluation of its currency, the real. Collapse of the real could cause financial havoc in the rest of Latin America.

Negotiations with the IMF reached a final stage after the government announced a tough austerity plan to save $84 billion over the next three years. Brazilian officials hope the austerity drive will go a long way to restoring investor confidence and that the government will not need to draw on much of the international package.

In addition to upfront loans, the IMF is expected to test out a new credit line on Brazil. Announced by Group of Seven nations last week, the precautionary credit line could be tapped at times of acute financial stress, ensuring the government pays its bills on time and has enough cash on hand to defend its currency.

The World Bank plans to use its new Emergency Structural Adjustment Loan facility in Brazil. The new loan facilitywould offer credits at higher interest rates. Money would be disbursed more quickly, but under shorter repayment terms.

The Inter-American Development Bank may offer up to $10 billion in new, higher interest rate emergency loans to Brazil and other Latin American states. Its board was scheduled to consider the proposal next week.

To supplement IMF, World Bank and IADB loans, G7 nations were expected to offer bilateral aid to the government, as well as export-import financing to keep trade flowing.

For its contribution, the United States will probably tap into the treasury department's special Exchange Stabilisation Fund. Use of the fund has raised hackles in Congress in the past. Many lawmakers resent that treasury secretary Robert Rubin can tap into the fund without congressional approval.

Hoping to smooth over relations with Congress, the treasury department has briefed House Banking Committee staff on conditions in Brazil, along with others that have requested information about the upcomingpackage, congressional sources said.

Japan's finance minister Kiichi Miyazawa said on Wednesday that Tokyo was also likely to provide aid to Brazil on a bilateral basis. No figures were given.