Brazil’s State Governors Try to Resolve Financial Crises

Of the 27 states in the Union, 20 are in the red with public debts totaling over R$56 billion.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s President Michel Temer met with state governors on Tuesday, November 22nd, to try to find a solution to the financial crises faced by many Brazilian states. The federal government agreed, in addition to giving states a share of the money obtained with the repatriation of Brazilian resources abroad, to also share with the states the fines paid on those assets.

“The resources of the fines will be shared with states and municipalities, just as it was done with the tax. Our commitment, in return, is that we continue . . .

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