CGU (Comptroller General of the Union) Chief Minister Vinicius de Carvalho said the body would monitor the implementation of the restructuring plan of Correios, which is going through a serious financial crisis and is negotiating a 20 billion reais loan to recover its liquidity.
According to him, the CGU already has audits underway on federally owned companies, including Correios, but he avoided saying what is being evaluated in each case.
“When we look at a particular crisis or a problem of a particular company, we have to look at what is cyclical and what is ultimately structural,” he tells C-Level Entrevista, a weekly video show from Leaf.
“You have markets that are evolving very quickly, where before you had a monopoly, or the monopoly you covered a reasonable part of your income and today that is no longer the case. These are things that need to be considered and planned for in the medium and long term, so that we can, ideally, avoid crises, or, when they arrive, be able to manage them as quickly as possible,” he adds.
As revealed Leaf in October, Correios negotiated a loan of 20 billion reais to finance the company’s restructuring plan, which provides for the settlement of debts with suppliers and banks, a new PDV (voluntary dismissal program) to lay off 15,000 employees in 2026 and 2027 and the reformulation of positions and salaries and the company’s health plan.
The Executive considers December 20 as the deadline to find a solution to the crisis. It is on this day that employees will receive the second tranche of their 13th salary, and there may not be enough money to honor this payment. This is why the problem is being addressed urgently and technicians are analyzing different alternatives to resolve the impasse.
A proposal made by five banks (Banco do Brasil, BTG Pactual, Citibank, ABC Brasil and Safra) was rejected by the National Treasury, which considered the interest rate high for an operation with a sovereign guarantee. The loan will have the Union as guarantor, meaning it will honor payments in the event of default, making the risk of loss virtually zero for financial institutions.
After the refusal, the government of Luiz Inácio Lula da Silva (PT) contacted Caixa Econômica Federal to unblock the loan and reduce the costs of the public postal service company, but the negotiations have not yet been concluded.
On Monday evening (8), Minister Fernando Haddad (Finance) said that there was room in the budget for a contribution of federal resources to the Post Office, but that there is still no decision from the Executive on the values and whether the operation will actually take place. According to him, the proposed amount is less than 6 billion reais.
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