To: Bobby Yellin who wrote (20593 ) 10/4/1998 4:38:00 PM From: goldsnow Respond to of 116790
Brazilians Vote In Latin America's Biggest Election 01:43 p.m Oct 04, 1998 Eastern By John Miller SAO PAULO (Reuters) - Brazilians voted Sunday in an election widely expected to hand President Fernando Henrique Cardoso an unprecedented second term to tackle the nation's worst economic crisis in almost two decades. More than 106 million Brazilians were due to vote for a president, federal and state lawmakers and state governors in Latin America's largest ever election. Voting was scheduled to end at 4 p.m. EDT (2000 GMT), with exit polls due out immediately after. Recent economic uncertainty set off by a wave of capital flight has only boosted Cardoso's popularity among Brazilians, who hope he can prevent a crippling devaluation and steer the nation through a financial storm that has leveled economies in Asia and Russia. They see the 67-year-old social democrat as a tried-and-tested ''miracle worker,'' having slain hyperinflation and introduced a stable currency, the real. ''He's really built something for the middle-class for the first time,'' said doorman Jose Clem, 54. ''With the real, we can predict how far our salaries will go. We can buy a good future for our children and grandchildren.'' One poll released Sunday gave Cardoso up to 50 percent of the vote compared to 24 percent for his main challenger, left-wing Luiz Inacio Lula da Silva, 53. The survey put Cardoso 14 points ahead of all his rivals combined. He only needs one vote more than all his challengers together to avoid a run-off vote on Oct. 25. While much of the nation remains poor, four years of stable growth under Cardoso has turned an estimated 30 million impoverished Brazilians into consumers. For the first time in their lives, they have been able to buy appliances like toasters, blenders and hair dryers. Cardoso was set to become Brazil's first re-elected president, having convinced Congress in 1997 to overturn a ban on executive office holders serving two consecutive terms. The president swept through Sao Paulo Sunday to cast his vote at a school in the city's residential Planalto Paulista neighborhood. A native of Sao Paulo, Cardoso flashed the victory sign at a cheering crowd after voting. ''It sends an important message that the president came all this way to vote with us in Sao Paulo,'' said a 47-year-old house wife. ''My vote is going for Cardoso.'' He was due to fly back to the capital of Brasilia later Sunday. In addition to the president, Brazilians will choose state and federal lawmakers and state governors. Governor races in the key states of Sao Paulo and Minas Gerais were close and expected to be decided later in the month in a run-off vote. Most observers say the current make-up of Congress -- with an assortment of more than 20 political parties -- is unlikely to change significantly Sunday when all of the lower house seats and a third of the Senate are up for grabs. Brazil's looming economic crisis has stolen the headlines and drowned out election coverage over the past month. Since Russia's devaluation in mid-August, investors have yanked some $30 billion out of Brazil, throwing the nation into its most precarious economic situation since it defaulted on foreign debt in 1982. Economists say the ensuing confidence crisis in financial markets will only be put to rest when Brazil secures an emergency credit line from the International Monetary Fund and other world bodies. That will come, economists say, only after Brazil adopts austerity measures that will almost certainly hurl the economy into recession next year. Global leaders are paying close attention to Brazil, whose $800 billion economy accounts for 45 percent of Latin America's gross domestic product and is nearly twice the size of Russia's and Mexico's. If it collapses, it will likely take the rest of Latin America down with it, which could spark a marked slowdown in the U.S. economy. Lula, a former lathe worker who is running for president for the third time, has routinely criticized press coverage of the campaign, saying the media has tried to distance Cardoso from the country's current economic hardship. ''This year's elections are ending up being one of the most manipulated we've ever seen due to a lack of information,'' Lula said after voting in an industrial suburb of Sao Paulo. A fleet of helicopters, river barges, air force planes and horse drawn carriages were being deployed to distribute ballots over an area larger than the continental United States. For Brazil's 160 million people, voting is mandatory between the ages of 18 to 70. To simplify vote-counting, election officials say half the nation's 106 million voters will punch in their choice on computerized ballot boxes. All of the electronic votes should be counted within 24 hours, with the final tally from paper ballots due Friday, election officials said. Copyright 1998 Reuters Limited.