Correios Delays Overhaul Plan, R$12 Billion Rescue Still Unsigned as CGU Questions Accounting

Overview

• A CGU audit found relevant internal‑control weaknesses and said the compensation across separate lawsuits that cut a R$1.032 billion provision to R$18 conflicts with accounting standards.
• The watchdog recommended adjustments that could add about R$1 billion to Correios’ 2023 loss and urged fixes to governance, IT systems and provisioning processes.
• The Treasury approved a federal guarantee for a R$12 billion loan to be arranged by two public and three private banks, with documents to be negotiated under PGFN and Treasury supervision.
• Correios postponed the public presentation of its 2025–2027 restructuring plan, and company sources told outlets the loan documentation has not yet been signed.
• Separate reporting indicates the company seeks roughly R$10 billion by year‑end to normalize deliveries, with widespread delays and a limited strike affecting service in several states.