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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (9397)	11/4/1998 11:43:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil's Govt Struggles To Get Majority For Key Reform Vote Dow Jones Newswires BRASILIA -- With five hours left before the scheduled start of the final voting on a key reform bill, the government was still struggling Wednesday to muster the presence of enough legislators to pass the bill. Voting on the last three remaining points of the Social Security Reform Bill is scheduled to start after 1900 GMT. The government needs a three-fifths majority, or 308 votes out of a total of 513 members in the Chamber of Deputies, to have the bill finally approved. By 1400 GMT however only 400 deputies had registered their presence in the lower house, according to Congress analyst Antonio Augusto de Queiroz of DIAP, a labor-union sponsored congressional research unit. The aim of the bill is to reform Brazil's overburdened social security system to avoid public accounts from spinning out of control. Government calculations are that the approval of the bill will save the country 2 billion reals (BRR) ($1=BRR1.19) in 1999 and up to BRR10 billion a year after five years.