Venezuela and Cuba Still Owe Over R$2.7 Billion in Loans from BNDES

Written by Bruno Teles

Published on 24/01/2023 at 15:59

Updated on 24/01/2023 at 16:00

BNDES (Foto/divulgação)

Be the first to react!

Venezuela And Cuba Still Owe Over US$529 Million To BNDES (National Bank For Economic And Social Development). This Amount, When Converted, Exceeds R$2.7 Billion. This Leads People To Think That Venezuela And Cuba Have Defaulted By Not Paying What They Took.

Initially, this amount represents about 25% of the total lent to these countries during the Lula And Dilma (PT) administrations. This data is available on the state bank’s website. However, even with the total having been paid, the two countries failed to settle their debts, leading BNDES to invoke contractual guarantees and also the national treasury to cover this shortfall.

Regarding the loan to Cuba, a document from (Camex) The Chamber Of Foreign Trade Was Released During President Jair Bolsonaro’s (PL) Term. The Document States That The Federal Government Accepted “Cuban Cigars” As Collateral For The Loan, Which Helped Construct The Port Of Mariel. According To Data From BNDES, Of The US$656 Million Lent To Cuba, Over US$407 Million Is Still Pending.

In fact, there Are 214 Installments In Arrears That Were Indemnified By The FGE (Export Guarantee Fund). This Is Funded By The Treasury, And 13 Still Need To Pay. In The Case Of Venezuela, The Outstanding Debt Is Less Than That Of Cuba, With US$122 Million Total Converted To US$1.5 Billion. Thus, There Were 641 Installments Indemnified To BNDES By The FGE, And Brazilian Taxpayers Covered 41 For Indemnification.

ARTICLE CONTINUES BELOW

Debt With Mozambique

In 2004, Lula Signed Off On A 95% Forgiveness Of Mozambique’s Debt With Brazil. In Total, Over US$315 Million Were Forgiven From A US$331 Million Debt. However, It Is Worth Noting That The Remaining US$16 Million Was Rescheduled, Meaning This Portion Was Pushed To The End Of The Payment Term. Thus, Were These US$16 Million Settled? Or Also Forgiven? Lastly, Besides Mozambique, In The Same Year, Lula Also Forgave Debts To Gabon, Bolivia, And Cape Verde, Totaling Over R$1.2 Billion Forgiven.

Venezuela and Cuba Still Owe Over R$2.7 Billion in Loans from BNDES

Venezuela And Cuba Still Owe Over US$529 Million To BNDES (National Bank For Economic And Social Development). This Amount, When Converted, Exceeds R$2.7 Billion. This Leads People To Think That Venezuela And Cuba Have Defaulted By Not Paying What They Took.

Debt With Mozambique

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

James Webb, NASA’s super telescope, detected quartz crystals in the clouds of a giant planet 1,300 light-years from Earth, where microscopic particles float in a scorching atmosphere and reveal a type of cloud never seen before.

China is building a colossal 110-meter radio telescope in the mountains of Xinjiang, with a 6,000-ton structure and a fully steerable antenna, to capture weak signals from deep space.

End of bricklayers? Electric robot emerges with robotic arm, smart sensors, and augmented reality to assemble masonry walls directly on site and transform the worker into a digital construction supervisor.

New technology could retire the common air fryer and reduce stove usage: Xiaomi introduces a smart 7-liter model, 1.5 L water tank, 130 °C steam, sous vide, 10 cooking modes, and mobile control in global launch.

Venezuela and Cuba Still Owe Over R$2.7 Billion in Loans from BNDES

Venezuela And Cuba Still Owe Over US$529 Million To BNDES (National Bank For Economic And Social Development). This Amount, When Converted, Exceeds R$2.7 Billion. This Leads People To Think That Venezuela And Cuba Have Defaulted By Not Paying What They Took.

Debt With Mozambique

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Attacks on refineries in Iran release a gigantic toxic cloud with 33,000 tons of sulfur dioxide, crossing 2,000 kilometers in just two days and triggering an environmental alert compared to a large-scale volcanic eruption.

The USA classifies PCC and Comando Vermelho as terrorists, targets asset freeze and material support, but the decision opens a diplomatic crisis with Brazil and reignites alert over sovereignty, sanctions, and the fight against organized crime in a year of national political tension.

More than 100 Chinese ships are surrounding Taiwan, warns the head of the country’s National Security Council.

James Webb, NASA’s super telescope, detected quartz crystals in the clouds of a giant planet 1,300 light-years from Earth, where microscopic particles float in a scorching atmosphere and reveal a type of cloud never seen before.

China is building a colossal 110-meter radio telescope in the mountains of Xinjiang, with a 6,000-ton structure and a fully steerable antenna, to capture weak signals from deep space.

End of bricklayers? Electric robot emerges with robotic arm, smart sensors, and augmented reality to assemble masonry walls directly on site and transform the worker into a digital construction supervisor.

New technology could retire the common air fryer and reduce stove usage: Xiaomi introduces a smart 7-liter model, 1.5 L water tank, 130 °C steam, sous vide, 10 cooking modes, and mobile control in global launch.