President Clinton vetoed the Foreign Operations Appropriations bill 
yesterday. His press secretary announced that other vetoes were possible 
until the President and Congress reached agreement on the budget impasse. The 
Defense Appropriation conference report which contains authority to 
permanently extend the exemption relating to OPIC and ExIm financing for 
projects in India is in the cue and could be affected by this action. 

Congressional authority for government operations expires this week as does 
the one-year exemption. Congress must act by Thursday to extend both items. 
Congress is expected to adopt a "continuing resolution" through October 29 
while the two branches of government work out their differences.

The President and Congressional leaders are to meet today to discuss and 
possibly establish a procedure for negotating the disagreement.