FBS - Analytics


    555.25 6.25/10
    84% of positive reviews

    Brazil might quit 34 international bodies to save cash

    Brazil is currently considering a possibility of leaving up to 34 second-tier international organizations, including the United Nations Industrial Development Organization, in order to cut back on costs, following the list seen by Reuters.    

    Brazil has run approximately $866 million in arrears with international bodies, including the United Nations because of a fiscal crisis. Moreover, its diplomats abroad have even struggled paying their rent, as one anonymous source with decent knowledge of the matter informed.

    The list of probable withdrawals, made by the Budget as well as Planning ministry, includes the Ibero-American summit organization along with six institutions of the South American trade bloc, Mercosur.

    The source added that the final decision hasn’t been made yet.

    Obviously, the departure from international organizations would appear to be the latest cost-cutting measure by Brazil's José Serra, new Foreign Minister who has unveiled its intention to pay the ministry's debts as well as balance its budget.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree