Instituto Cultural Minerva Institute of Brazilian Issues The George Washington University

The objective of this paper is to describe The Brazilian Telecommunications System, its needs, and the new environment in Brazil as a result of the introduction of competition into the telecommunication industry. [...] The country’s rapid progress in the area of telecommunications actually began in the late 1960s when Embratel -- The Brazilian Telecommunications Company -- was founded and the government regulated the sector through the CNT -- Codigo Nacional de Telecomunicacoes -- the code of Brazilian telecommunications. [...] The concession was reaffirmed in the current Brazilian constitution, which reserved the right to grant concessions for the provision of public telecommunications services to the federal government and required that concessions for the provision of public telecommunications services be granted only to government-controlled companies. [...] His program proposed the following overall guidelines for the institutional organization of the industry: stimulate private sector investments; strengthen the role of the State as the regulatory agency for telecommunications; diversify the supply of private sector services in the industry; preserve the public sector presence in strategic telecommunications and technological development and, create. [...] The method is used to raise long- term capital from international sources, denominated in the currency of that country and issued in accordance with the standard procedures of the bond market, and usually at a premium interest rate reflecting the exotic nature of the borrower and/or the possibility of difficulties in collecting payments due.