The Brazilian Post Office, known as Correios, has reportedly defaulted on R$ 3.7 billion in payments to various parties including suppliers, a pension fund (Postalis), an employee health plan (Postal Saúde), and federal taxes. This alarming information came to light from a detailed document that G1 accessed exclusively, showcasing the precarious financial situation facing this state-owned enterprise. Over recent years, Correios has been grappling with a series of economic and financial crises that have adversely affected its operational performance, leading to significant debt accumulation.

In response to the mounting financial pressures, Correios has announced various recovery plans and established a Contingency Executive Committee in June, directly linked to the company's presidency. This committee is tasked with addressing the financial crisis and formulating strategies to manage the deteriorating fiscal status of the company. One of the critical measures implemented by the committee involves the adoption of a postponement policy, wherein payments are intentionally delayed as a reaction to the negative cash flow caused by reduced revenues over the years.

The situation presents serious implications for the state-run entity's credibility, operational capacity, and ability to sustain services. Failure to resolve these financial issues could lead to a deterioration of services provided to the public and erode trust in the efficiency of federal institutions. As the crisis deepens, stakeholders will be watching closely to see how the Post Office maneuvers through this significant turmoil and whether the newly established contingency plans will yield positive results in restoring financial health.