Rio’s Mayor Wants to Sell Future Revenue From Oil Royalties and Special Holdings

The Mayor's decision may have an impact on the accounts of the next city administration. City councilors have already filed a petition with the city's Audit Court in an attempt to prevent the bid proceeding.

RIO DE JANEIRO, BRAZIL - In his last year in office, Rio's Mayor Marcelo Crivella authorized the opening of a bid for the municipal government to sell rights to future rights to oil royalties and special holdings to which the municipality has direct access.

The order from the Treasury Secretary Rosemary de Azevedo Carvalho was published on Tuesday, August 18th, in the Municipal Gazette. In . . .

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