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

To: Steve Fancy who wrote (9414)	11/4/1998 3:01:00 PM
From: Steve Fancy	Respond to of 22640

Brazil Congress Head Count For Wed Vote Short Of Goal - TV Dow Jones Newswires SAO PAULO -- Brazil's lower house of Congress has 459 members present late Wednesday for voting on a key reform measure, the Globo cable news network reported. That number falls short of the 480 that government-allied leaders in Congress and analysts have targeted as the minimum necessary to ensure that the government gets the 308 votes needed to to obtain final approval of three outstanding points of a landmark social security reform bill. The government needs a minimum of 308 votes on each measure to pass the bill in its totality. The bill, which has been delayed in Congress for more than three years, aims to save the government 4 billion reals (BRR) ($1=BRR1.19) in 1999 and nearly BRR18 billion over the next three years. Later, at 1940 GMT, the Estado news agency reported that 475 deputies were present. Earlier Wednesday, Arnaldo Madeira, the leader of the pro-government coalition in the lower house, said that the government would need between 470 and 475 members present to guarantee victory. Wednesday's vote on social security reform is considered an important indicator of how willing Congress will be to approve the measures outlined last week as part of the government's fiscal stabilization plan. -By Stephen Wisnefski; (55-11) 813-1988; swisnefski@ap.org