Good morning! Today, severe climate events could see states and cities delay their federal debt payments. Congress is getting more and more distant from Lula. And Car Wash takes yet another defeat.
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Climate emergency could leave federal coffers depleted
Almost half of the 108 Brazilian municipalities in debt to the federal government are considered to be at a high or very high risk of floods in the coming years, according to projections from the Science and Technology Ministry, which The Brazilian Report’s Isabela Cruz and André Chiavassa crossed with financial data obtained by Fiquem Sabendo, a freedom of information advocacy group.
State of play. A recently passed law authorizes the government to postpone debt repayments by up to 36 months from states and municipalities affected by “extreme climate events” and with states of public calamity recognized by Congress.
- The law was passed to help the state of Rio Grande do Sul, which faces an enormous bill to rebuild the state’s infrastructure after the devastating floods of the past couple of...