Brazil: Desenrola 3.0 to Buy Up US$29 Billion in Family Debt at Up to 90% Discount
Lula's Desenrola 3.0 will buy defaulted family debts from creditors at up to 90% discount, targeting about US$29 billion; first relief reaches families from February 2027. The post Brazil: Desenrola 3.0 to Buy Up US$29 Billion in Family Debt at Up to 90% Discount appeared first on The Rio Times .
Brazil's President Lula has announced the launch of Desenrola 3.0, a federal government program to buy up defaulted family debts at discounts of up to 90%. The program targets roughly R$150 billion (about US$29 billion) of eligible debt, which is around half of what qualifies, with an estimated fiscal cost of R$15 billion (about US$2.9 billion).
Eligible debts include credit-card revolving and instalment balances, as well as personal loans without payroll deduction, with an original value of up to R$10,000, overdue for more than 720 and fewer than 1,645 days. The government expects to reach around 50% of eligible debts and has budgeted about R$15 billion for the purchases.
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