Moderate measures for Brazil
NZPA-Reuter Brasilia The Brazilian Government responded yesterday to the defeat of wage restraint legislation in Parliament by introducing new, more moderate measures effective immediately.
The legislation thrown out by the lower house would have set pay rises at 80 per cent of the inflation rate.
A presidential decree yesterday guaranteed that all salaried workers earning up to SUSI3O per month — more than four-fifths of the Brazilian work-force — will get pay rises equivalent to the full official inflation rate.
Bankers said that the Government’s defeat did not mean the collapse of Brazil’s debt-financing negotiations with the International Monetary Fund and commercial banks.
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Press, 22 October 1983, Page 10
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105Moderate measures for Brazil Press, 22 October 1983, Page 10
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