Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.597

+1.3%

Dec 24 12:59 PM EST

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To: lebo who wrote (9350)	11/3/1998 2:23:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Gov't struggles to approve Welfare in Congress São Paulo, 3 - The government is preparing its allies to vote the Welfare reform in second round in Congress tomorrow. By Wednesday, Welfare minister, Waldeck Ornelas, will gather PFL and PMDB deputies in an attempt to explain the fiscal adjustment measures and reinforce the urgency of the reform conclusion. In addition to completing the vote on the proposal, which has proceeded in Congress for over three years, the government also aims at conceding the fiscal austerity program some credibility and show that investors are supportive of Congress. The government hopes that a virtual victory help halt the continuous outflow of dollars and facilitate Brazil's negotiations with the International Monetary Fund (IMF). Ornelas announced yesterday that the rural sector contribution to the Welfare system is also to be changed so as to avoid fiscal evasion and frauds. (O Estado de S. Paulo/ Jornal da Tarde. Edited by Sergio Caldas)

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