Workers’ Party Won’t Repay Loans

Brazil’s ruling Workers’ Party announced it won’t repay loans that former treasurer Delubio Soares obtained through a state contractor. The party’s national board decided against honoring loans totaling as much as $17 million that Soares obtained from Banco Rural and Banco de Minas Gerais. Soares failed to list the loans, obtained in 2003 and 2004, in the party’s financial statements and should pay them off himself, according to party president Tarso Genro said.