Spain Works Out Details to Convert Brazil’s Debt into Education Investment

The conversion of part of Brazil’s foreign debt into investments in education was one of the topics discussed at a meeting between the Brazilian Minister of Education, Fernando Haddad, and the Spanish Vice President, Maria Tereza Fernandez de La Veja. Brazil’s debt to Spain comes to approximately US$ 25 million.

According to Haddad, “the two governments will establish an international cooperation agenda to pardon the debts and, at the same time, receive investments.”


The agenda will also make it possible to verify that “a specific sovereign gesture of one country implies effective support for a specific project.”


During the meeting it was decided that between now and October, when the two governments are scheduled to meet in Salamanca, Spain, work groups from the two countries will deepen the debate over the criteria to adopt for the conversion proposal to go into effect.


“The criteria still need more polishing, to assure the country that is pardoning part of the debt that there will be real investments in education. For this reason, all scrutiny concerning the accounting of this project is important,” the Minister declared.


According to Haddad, these accounting criteria need to be rigorously determined. “It is possible through accounting procedures to show that there were greater investments in education as a result of a specific act of debt-pardoning, when in fact there weren’t.


“What we want to do is to shield the project so that additional support for education can actually be corroborated, through one country’s generous gesture on behalf of an educational project settled by mutual accord.”


The cooperation between Brazil and Spain also calls for investments in training teachers in Spanish language instruction.


A law signed last Friday,  by President Luiz Inácio Lula da Silva made it mandatory to offer Spanish classes in public and private secondary schools. Schools will have five years to comply with the new law.


ABr

Tags:

Ads

You May Also Like

The Immigrant Museum in São Paulo, Brazil

An Old Brazilian Inn Tells Stories of Old Arab Peddlers

The construction of a buildings complex covering a 30,000 square meters area in the ...

Brazilian Leaves for Eight-Day Mission in Space

Brazilian first astronaut Marcos César Pontes is leaving this Wednesday, March 29, in The ...

Brazil: With Zero Hunger Farmer Doesn’t Need to Starve

Deusina de Oliveira Coelho cares for the children in the Dante School in a ...

Brazil Goes to War Against Salt, Sugar and Trans Fats

It’s estimated that 30% of the Brazilian population has high blood pressure. To deal ...

100 Countries in Brazil for Talks on Corruption and Money Laundering

Brazil’s Minister of Control and Transparency, Waldir Pires, of the Federal Comptroller-General’s Office (CGU), ...

After Cuts Brazil’s Agrarian Reform Gets More Money

Brazil’s Ministry of Agrarian Development (MDA) will receive another US$ 154 million (400 million ...

To Achieve Bolivar’s Dream Brazil Must First Tame the Amazon

Simon Bolivar was not the first to dream of a united Latin America, and ...

Foot and Mouth Disease Hits Brazil with Close to US$ 2 Billion in Losses

Foot and mouth export losses are estimated to reach US$ 1.7 billion given the ...

Jobs Keep Growing in Brazil for 14th Consecutive Month

Brazil’s industrial indicators for February, released yesterday by the National Confederation of Industry (CNI), ...

Among World’s 100 Best Schools Brazil’s USP Advances 26 Points

Brazil's USP, the University of São Paulo, was considered the 87th best university in ...