The Ministry of Finance has not yet received the necessary documentation to evaluate the R$20 billion loan request that supports the Correios operations continuity plan.
The move is considered decisive to avoid worsening the financial situation of the state-owned company, which has been operating with a deficit since July and is accumulating .
: sending, by post, the technical dossier to the STN (National Treasury Secretariat).
Only after this analysis will the government be able to authorize the contracting, as the operation will be guaranteed by the Union, while the risk remains with the Treasury in case of default by Correios.
However, as of Monday night (1st), according to Treasury sources, no request had been filed.
distributed between 2025 and 2026. To move forward, banks need to adapt the cost of the operation to the limits established by fiscal policy.
And despite the need for speed, the Post Office still needs to meet prerequisites and requirements from banks, which can further delay the sending of documentation to the Treasury.
Today, the proposal presented to the government includes a charge of 136% of the CDI, above the 120% ceiling stipulated by the Treasury for financing guaranteed by the Union. The high rate reflects the deterioration of the state-owned company’s accounts and the high credit risk attributed to the company.
In the plan presented to the government, the first installment would be released later this year so that Correios can rebuild cash, pay off debts and close 2025 without contractual breaches.
Part of the resources will be used to amortize liabilities with suppliers, comply with court decisions, regularize social security contributions and replace old financing.
Loans are one of the pillars of . The plan foresees a reduction in expenses of around R$2 billion, including staff cuts and the closure of around a thousand branches.
On the revenue side, the strategy includes the sale of idle properties, estimated at approximately R$1.5 billion, and new services developed in partnership with private companies.
A relevant portion of the financed resources must finance the voluntary dismissal program, which aims to leave around 10 thousand employees.
If the Treasury validates the operation, the government must issue a presidential decree formalizing the authorization and registering the legal framework for the contract to be completed.
The operation, however, has been monitored by control bodies. requested supervision over the conditions of the loan, arguing that the Union will assume a significant risk if the cost parameters and guarantees are not compatible with the fiscal situation.
But, at Correios, the assessment is that authorization needs to occur quickly to avoid a scenario of widespread default and the risk of service interruptions in 2026.
