Atlas · Oil and gas
Unpaid debt limit of the CFI with BIRD loans, participations and guarantees
AnswerThe limit is 4 times the sum of the CFI’s subscribed capital and free surplus for unpaid BIRD loans, participations and guarantees.
Reviewed on 2026-10-04 · next review 2027-04-04
Data
| Who | Criterion | Limit | Source | Data date |
|---|---|---|---|---|
| CFI | Total unpaid amount of BIRD loans, participations and guarantees | Cannot exceed 4 times the sum of the CFI’s subscribed capital and free surplus | Decree No. 6.376/2008 (Planalto, in Portuguese) | 19/02/2008 (publication in DOU) |
| CFI | Application of the limit | Effective since the approval of Resolution No. 221 of the BIRD Governors’ Assembly (25/08/1965) | Article III, Section 6(a) of the CFI Constitutive Agreement (amended by Resolution 221) | 25/08/1965 |
Data consulted on 04/10/2026.
Basis
- Decree No. 6.376/2008 (Planalto, in Portuguese): promulgates the amendments to the Constitutive Agreements of the CFI and the BIRD, including Resolution No. 221 of the BIRD (1965), which sets the unpaid debt limit of the CFI with BIRD loans, participations and guarantees.
How it applies
The limit applies only to loans, participations and guarantees granted by the BIRD to the CFI. It is calculated as 4 times the sum of the CFI’s subscribed capital and free surplus at the time of the operation or as a result of it. The total unpaid amount (including guarantees) may not exceed this limit. The rule does not apply to other CFI debts from sources other than the BIRD.
Limits
- The limit does not include CFI debts with other institutions or sources.
- Resolution 221 of the BIRD (1965) exempts CFI loans from other restrictions of the Constitutive Agreement (Article III, Sections 4 and 5(c), and Article IV, Section 3).
- The text does not specify mechanisms for monetary updating or periodic review of the limit; future changes must be checked in the BIRD Governors’ Assembly Resolutions or new promulgation decrees.
- This sheet covers only the limit described in Resolution 221 and its promulgation decree; other BIRD or CFI regulations may apply to different operations.
All sheetsPlain-text version (.txt)
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