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Eyeing new Itaipu deal, Lula panders to Paraguay
Presidents Luiz Inácio Lula da Silva of Brazil and Mario Abdo Benítez of Paraguay attended the inauguration of the new general director of the Itaipu dam, the giant hydroelectric plant jointly owned by the two countries.
- During the meeting with his counterpart, Lula made sure to sing Paraguay’s praises — emphasizing the friendship between the two countries and pledging Brazil’s utmost respect for its smaller neighbor.
Why it matters. In August 2023, the current treaty concerning the sale of energy produced by Itaipu will expire. Itaipu provides 8.4 percent of Brazil’s energy consumption and a whopping 85 percent of Paraguay’s.
State of play. The treaty, signed 50 years ago, stipulates that Brazil and Paraguay are entitled to an equal 50 percent share of the dam’s energy. It also forces Paraguay, a sparsely populated country with energy needs...