The financial situation of Rio de Janeiro can finally begin to breathe. After the obstacle with respect to the transfer of the oil royalties by the Union, the Federal Supreme Court (STF) decided to meet the request of the State of Rio de Janeiro and granted an injunction guaranteeing a monetary correction of 32 million dollars annually into the river.
Second note, given by the State Government, the Union will have to go over to the State, from now on, the values fixed by the referential rate Special system for settlement and custody (Selic). Rio de Janeiro had requested that the monetary correction was performed on the transfers of the past five years, which was of 522 million reals. However, this assessment was to be examined on the merits of the trial of the action, which will still be marked.
Fernando Ba, Deputy Attorney-General, said that before the crisis which rages in Rio de Janeiro, this and other judicial and administrative initiatives already underway will be continued, in order to preserve and recover the proceeds of Rio de Janeiro. The effective transfer approved by the Supreme Court should happen within 60 days.
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