MILAN – Brazil has been suspended from voting in the ICO for one year for late and incomplete payment of membership dues of £382,000 (US$582,000), report Brazilian media. The deadline for payment was September 30th. Only a partial payment of R $1.7 million (US$441,000) was made.
Brazil failed to pay the dues within the deadline because of budget cuts, according to sources.
As a consequence of this decision, Brazil will be suspended from voting in the International coffee council and all the other ICO bodies in the 117th and 118th Session.