Government settles debt of R$ 500 million with Mercosur fund

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Since the management of former president Dilma Rousseff, Brazil has not made agreed contributions to the fund. According to the government, with discharge, the country will be entitled to R$ 350 million to finance works and services. The federal government announced this Wednesday (20) that it has settled a debt of R$ 500 million owed by Brazil to the Fund for Structural Convergence of Mercosur (Focem). Since the management of former president Dilma Rousseff (PT), in the midst of the economic crisis, the country has not made the agreed contributions to the fund. In a note, the Ministry of Foreign Affairs informed that, with the settlement of the debt, Brazil will be entitled to access R$ 350 million from the fund. The resources must be used to finance projects in Brazilian municipalities in regions bordering the bloc’s countries – Brazil, Paraguay, Uruguay and Argentina –, in sectors such as urban infrastructure, security, basic sanitation and health. The amount is delivered as a non-refundable donation, to finance up to 85% of the project value. The proposals, however, need to be approved by Mercosur participants. Since the beginning of the third term, the government of President Luiz Inácio Lula da Silva (PT) has made efforts to settle debts with international organizations. However, the amount paid represents just over 10% of debts. According to the balance sheet presented on April 10, when the management completed 100 days, R$ 526 million were paid. The sum of international debts, however, reaches 4.8 billion.

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