BRAZILIAN LEGISLATORS DEBATE PESION REFORM VOTE IN CONGRESS, 1999-01-20 (photo)

Liberal Front Party (PFL) leader Inocencio Oliveira (L) and Social Democrat (PSDB) Aecio Neves debate the merits of a controversial pension reform bill prior to voting, in the lower house of Congress in Brasilia late January 20. Markets around the world braced for the critical pension reform vote that the government must win to stem a crisis which threatens to hurt the world economy. This year, the federal government will spend more than $15 billion on pensions and benefits, but will only collect about one-seventh of that in contributions, making the civil service pension system one of the biggest drains on public accounts. Legislator at center is unidentified. GN/SV/AA