Brazil precatórios backlog hits 270k beneficiaries, R$69.7bn

Brazil's federal court-ordered payment queue (precatórios) has grown to 270,332 beneficiaries totaling R$69.7 billion, up from 157,705 in 2022. The increase reflects both rising definitive judicial decisions against the União and successive changes in payment rules. This fiscal overhang could pressure Brazil's budget credibility and sovereign risk, though the direct market impact is limited as it is a gradual accumulation rather than a sudden shock.