TCU Launches Task Force to Audit At-Risk State Firms as Correios’ R$20 Billion Loan Faces Scrutiny

Overview

• TCU President Vital do Rêgo ordered a task force to expand oversight beyond finances to governance, operations, personnel and IT, starting with nine higher-risk state companies and potentially extending to all 27 monitored firms.
• An on-site audit at Correios is underway through this month to examine alleged administrative, financial and operational irregularities, including delays to Postal Saúde and suppliers, a R$7.6 billion Postalis debt agreement, unfulfilled donations and compliance in lithium-battery transport.
• Correios presented its restructuring plan to the TCU on November 5, seeking a R$20 billion bank loan guaranteed by the National Treasury to stabilize operations, modernize services and cut costs.
• TCU technical units will track execution of the Correios plan and any federal participation in the proposed credit operation, including potential involvement of public banks, to ensure legal compliance and efficient use of funds.
• The Treasury flagged nine nonfinancial state firms at risk, including Casa da Moeda, Infraero, ENBPar and five port authorities, and warned that emergency support could pressure a debt path projected near 79% of GDP in 2025.