Government Asks TCU to Remove Findings on R$12 Billion Correios Rescue

Overview

• The Advocacia-Geral da União filed a pedido de reexame on July 6–7 asking the Tribunal de Contas da União to suspend and delete items 9.2, 9.3 and 9.4 of acórdão nº 1.359/2026.
• Those three items had ordered re-evaluations and independent verification of the cash-flow assumptions and the Tesouro’s capacity-to-pay analysis that underpinned the Union’s guarantee of a R$12 billion loan to Correios.
• The AGU argues the approvals followed the law and the Treasury’s methodology in Portaria MF nº 3.090/2025, which it says allows use of projected cash flows from the company’s reorganization plan.
• The TCU’s technical vote, led by relator Benjamin Zymler in late May, had warned the deal was fast-tracked and flagged fiscal risk; the court also opened a separate process to probe possible responsibility of Treasury agents.
• Correios remains deeply loss-making—R$8.5 billion loss in 2025 and a R$3.1 billion deficit in Q1 2026—and is seeking about R$7 billion more, so the TCU’s pending decision could affect federal fiscal exposure and standards for future state-company rescues.