The Venezuelan government of Nicolás Maduro has ignored Brazil’s attempts to negotiate the payment of a billionaire debt related to the financing of works and services provided by Brazilian companies in Venezuela. According to a document from the Secretariat of International Affairs of the Ministry of Finance, obtained by Folha de S. Paulothe debt already has US $ 1.74 billion (about R $ 10 billion), including amounts indemnified by the Union to financing banks and interest for delay.
The official response was sent to Deputy Nikolas Ferreira (PL-MG), who had requested debt information. The text reports that “negotiation is suspended due to the absence of responses of the Venezuelan government” and that Brazil has sought to charge both by diplomatic and direct communications to the Venezuela Ministry of Economy.
The Brazilian government also reported that payment delays were reported to multilateral institutions, such as the Paris Club, which brings together large global creditors, including France, Germany and the United States. New installments are expected, totaling US $ 16 million (approximately R $ 90 million), will be compensated by June, if the Maduro government does not make the payment.
Debt origin and negotiation attempts
The amount corresponds to financing granted by BNDES for Brazilian companies to carry out infrastructure works in Venezuela, such as the Caracas subway. In the financing model, the foreign country was responsible for the payment, and, in case of default, the Brazilian bank received coverage from the Export Guarantee Fund (FGE), linked to the Ministry of Finance.
The Lula administration reopened the negotiation table in 2023, after the visit of Maduro to Brasilia. However, conversations did not advance. The cooling of diplomatic relations between Brazil and Venezuela, which intensified with the Brazilian veto at the entrance of Venezuela as a partner of the BRICS, further complicated the situation.
Despite the history of proximity between petist governments and chavismo, the impasse remains. In previous statements, Lula attributed the non-payment of the debt to the management of former President Jair Bolsonaro, who would have cut relations with Caracas, making it difficult to charge. In February 2023, the Brazilian president stated that in his government debtor countries will “pay”, classifying Venezuela and Cuba as “Friendly Countries of Brazil”.
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Opposition pressure
The financing of works in countries such as Venezuela and Cuba is a constant target of criticism of the opposition, which questions the use of BNDES resources for international projects over the Brazilian domestic market. Deputy Nikolas Ferreira (PL-MG) has pressured the government to clarify the situation and to adopt effective measures to ensure payment.
With the diplomatic impasse and the lack of answers from Caracas, the Brazilian government is still unfounded to receive the amount due.
