EXHIBIT 77 M - MERGERS

At meetings held in January and February 2002, the Board of Trustees of
Templeton Global Governments Income Trust (the "Trust") considered a proposal to
reorganize the Trust into Templeton Global Income Fund, Inc. ("Global  Income
Fund"). Having duly considered  the factors it deemed relevant, the Board of
Trustees, including all of the Independent Trustees, unanimously approved the
Agreement and Plan of Acquisition (the "Plan") and voted to recommend that Trust
shareholders approve the Plan. At the Annual Meeting of Shareholders held on
August 1, 2002 the Trust's shareholders approved the Plan, it resulted in the
transfer of substantially all of the Trust's assets to Global Income Fund in
exchange for shares of common stock, par value $0.01 per share of Global Income
Fund shares of equivalent aggregate net asset value. The Global Income Fund
Shares were distributed to Trust shareholders.  The Trust will be completely
liquidated and dissolved and deregistered with the SEC.

The tax-free reorganization was effective as of the close of business on August
30, 2002.