Finance Minister Fernando Haddad said on Wednesday that there is no discussion in the government of President Luiz Inacio Lula da Silva about the privatization of Correos, at the same time as he conditioned the National Treasury’s approval of the state-owned company’s rescue plan on the submission of a “coherent” restructuring plan by the company’s current board of directors.
In an interview with Globo News, Haddad said he had only “very recently” seen the “true picture” of Correos, which faces a billion-dollar deficit, and said he was confident that the current board of directors of the state-owned company would present a logical plan.
“What we are saying is this: Any solution to this issue will necessarily include a restructuring plan,” Haddad told GloboNews. “There is no way for the National Treasury to think of something that does not include a restructuring plan approved by the National Treasury, and he is the one who is specifically asking for approval so that he can make this plan financially viable.”