LatinNews Daily - 24 February 2025

*The governments of Brazil and Paraguay have agreed to hold a meeting on 30 May to sign the revised Annex C of the Itaipú Treaty, which determines the financial arrangements of the binational Itaipú hydroelectric dam. The agreement was made during a meeting between Brazil’s minister for mining and energy, Alexandre Silveira, and Maria Laura da Rocha, the secretary general of Brazil’s foreign affairs ministry, with Paraguay’s President Santiago Peña, his trade & industry minister, Javier Giménez, and foreign minister, Rubén Ramírez Lezcano. The office of Paraguay’s presidency announced on social media that delegations from both countries have “set a date for the signing of the new Annex C of the Itaipú Treaty, advancing in the process of revising the agreement”. It added that “this is a key step in the bilateral negotiations, reaffirming our commitment to development and energy cooperation”. Paraguay’s President Santiago Peña has been leading efforts to secure better terms for Paraguay, with negotiations focusing on Annex C, which states that each country owns 50% of the electricity generated by the dam and allows them to sell surplus electricity from their respective share back to each other.