Brazil Plans to Buy Up Old Household Debts at Up to 95% Off Before Vote
14 Articles
14 Articles
Eligible debts are revolving credit card and parcel and non-sheet personal credit, with a delay of 2 to 4.5 years
Government to acquire and restructure debts
Brazil Plans to Buy Up Old Household Debts at Up to 95% Off Before Vote
With household loan defaults at a record 5.8% and a presidential vote on 4 October, Lula is set to unveil a plan for the Treasury to buy up old consumer debts at discounts of up to 95%. Who qualifies, the cost and the start date are not yet official.
Measure was announced with the prohibition of online betting platforms, in another initiative within the petist's effort to attract votes
The government of President Luiz Inácio Lula da Silva prepares to launch on Friday (25) the new program for the reduction of the indebtedness of families. The launch must happen tomorrow afternoon, in São Paulo. Lula yesterday asked the economic team to accelerate the final design of the measure. Material exclusive to subscribers. To have full access, access the link of the matter and register.
Government will buy debts with a delay of 2 to 4 and a half years; the estimate is that eligible debts will be around R$ 300 bi. Read on Power360.
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