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International Outlook: Global Wrapup


President Fernando Collor de Mello's Mar. 30 Cabinet sweep could clear the way for faster economic reform. After widespread reports of high-level corruption, Collor demanded the resignation of all his ministers. He reappointed only a few, including Finance Minister Marcilio Marques Moreira, the architect of Brazil's market-opening policy.

Collor's reform efforts have been hampered by the weakness of his National Renovation Party, which holds only 8% of the seats in Congress. But now, in a switch, he is bringing representatives of opposition parties into the Cabinet. That could make it easier for him to win congressional approval of such proposals as the privatization of Petrobras, the oil giant, and Telebras, the state telecommunications company.EDITED BY STANLEY REED

The Aging of Abercrombie & Fitch
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