Brazil to pay debt to multilateral organizations in 2023

BRASILIA (Reuters) – Brazils government will pay outstanding debts of 2.6 billion reais ($490.6 million) to multilateral organizations in 2023, reinforcing its commitment to global forums, the Planning Ministry said on Thursday.

The amount corresponds to debts to “various organizations” inherited from former President Jair Bolsonaros administration, which leftist President Luiz Inacio Lula da Silva will settle.

Lula has sought to restore Brazils international presence and reposition the country to attract investments, most notably resuming an active role in fighting climate change and addressing human rights.

The ministry said 480 million reais would be paid off this month. The main debts are with the United Nations ($58.8 million) and for U.N. peacekeeping missions ($264 million).

Brazil also is in arrears with the Organization for Economic Co-operation and Development (OECD), which could threaten its process of accession to the Paris-based rich countries club.

Valor newspaper reported on Thursday the Brazilian government has until next month to pay 5.1 million euros owed to the OECD to cover travel costs, studies and other expenses related to its bid to join the organization.

($1 = 5.2997 reais)

(Reporting by Marcela Ayres; Editing by Chris Reese)