Won on Monday a debt of R $ 1.3 billion that the governments of Venezuela and Mozambique can not afford. The Brazilian government had to change the budget to honor the commitments of works contracted by these countries with international banks and the BNDES (National Bank for Economic and Social Development).
During Lula and Dilma Rousseff's efforts, these loans from BNDES were part of the strategy to secure the African and Latin American market for large Brazilian contractors.
Some contracts were not paid, however, and the account fell on the Brazilian government, due to the FGE (Export Guarantee Fund) insurance.
That is, if Brazil does not repay the debt, it will be in default for the international financial system and will have difficulty performing almost any financial operation in this area.
In view of the consequences, the government did not have much difficulty approving these resources at the congress on May 2, but it has heard many criticisms.
One of the arguments would be that, after all, whoever pays the duck is the Brazilian taxpayer, since the resources for the operation will be withdrawn from the FAT (Workers' Assistance Fund), in the unemployment insurance program.
Economist Mauro Rochlin, professor of MBA courses at the Getúlio Vargas Foundation, in conversation with the Brazilian newsroom, played down these criticisms.
"It was not a timely choice, there is a legal provision for this, which is the source to be used for this kind of situation, so this was not a discretionary choice of government, but it is an imposition of the protocol relating to the operation" , explained the economist.
The total debt is about R $ 1.5 billion, and the Union provides about R $ 1.3 billion for the Guarantor Fund to honor the commitment.
"Brazil does this out of necessity. Since it does not comply with this guarantee given to the operation, the country is in default before the international financial community and will have many difficulties to participate in financial operations within the framework of this international system," said the interlocutor of the NewsPaper Educatch.
In addition, a part of the criticism in the press, when covering the subject, was directed against the governments of the PT, under the auspice of which the operations happened. According to Rochlin, however, it is difficult to judge the government's intention at the time of release of resources. "The idea was to enable the sale of services to third parties," he said.
"If we tried to support the country's commercial transaction, the countries [Mozambique and Venezuela] were not in default, and at the time of the release of resources, what is questionable is the strategy itself, if it was the best form."
As for the political weight of the re-allocation of funds, the economist considers the subject as a "minor issue". According to him, "can not compare with the need to approve pension reform. It is a case that does not directly hurt the population."
"In terms of the national budget, even if they are not insignificant, it is not a value that will unbalance the budget. The national budget provides for expenditures of approximately 1 trillion and 500 billion reais - the general budget of the Union - that is, only in the Federal sphere, so when we talk about 1.5 billion reais it's a relatively small amount. "
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