Opposition wants to investigate Venezuela’s debts to Brazil

Opposition lawmakers plan to investigate Venezuela’s debts to Brazil. Next Wednesday (7), the Financial Inspection and Control Commission of the Chamber of Deputies (CFFC) will hold a public hearing with the aim of hearing the federal government and entities about the billions of reais that the neighboring country owes.

According to information from the Ministry of Development, Industry, Commerce and Services (MDIC), the country of Nicolás Maduro already accumulates US$ 1.2 billion (almost R$ 6 billion) in debt. The folder also informed that the debts with Brazil refer to “delinquency in Brazilian exports of goods and services that contracted the Export Credit Insurance, backed by the Export Guarantee Fund”.

For the president of the CFFC, deputy Bia Kicis (PL-DF), the collegiate should be aware of the amounts owed by the neighboring country. She also criticized the promise made by President Luiz Inácio Lula da Silva (PT) to return to financing Venezuela through the National Bank for Economic and Social Development (BNDES).

“It is very important that the Inspection and Control Commission does not remain inert in the face of this appalling news: Lula receiving here a dictator known to be genocidal, who destroyed his people. And also monitor these promises that it will finance Venezuela.”, said the deputy to People’s Gazette.

She added: “We want to know all the details, everything that Venezuela owes Brazil. How can you? Lending money to a debtor. This is nonsense. This money belongs to the Brazilian people. We are going to do everything to stop this mismanagement cheating.”

The commission invited the Minister of Finance, Fernando Haddad; the president of BNDES, Aloizio Mercadante; representatives of the Federal Court of Auditors and civil society organizations. So far, there has been no confirmation about the government’s participation.

If the CFFC finds evidence of irregularities on the part of the government in the collection of amounts, the request for the establishment of a Parliamentary Commission of Inquiry (CPI) can be made.

Brazilian taxpayer paid Venezuelan debt

The overdue Venezuelan debt already amounts to more than US$ 1.2 billion (R$ 5.45 billion), with another US$ 214 million (R$ 1 billion) in installments due. Any amount that is not paid by Venezuela ends up coming out of the taxpayer’s pocket, since operations via BNDES and other banks were guaranteed by the Export Guarantee Fund (FGE), which is linked to the National Treasury. That is, money withdrawn from public coffers.

In the contracts with the BNDES alone, the FGE has already covered US$ 682 million (R$ 3.3 billion) in Venezuela’s debts. Around US$ 40 million (R$ 198 million) have not yet been transferred by the Treasury to the BNDES.

The amounts loaned to the neighboring country via BNDES financed the construction and expansion of the Caracas subway, construction of Siderúrgica Nacional, Estaleiro Astialba and the Tuy river sanitation project, in Miranda.

At the time, the role of the BNDES was to finance the export of Brazilian services to Venezuela through investments in large national construction companies, such as Odebrecht, Andrade Gutierrez and Camargo Correa – all investigated by the Lava Jato operation for corruption allegations.