Lula announces purchase of up to R$ 150 billion in debts before elections
President Lula announced this Friday the Desenrola 3.0 program, an initiative intended to purchase up to R$ 150 billion in debts.
TL;DR
- President Lula announced Desenrola 3.0, a program to buy up to R$ 150 billion in family debts.
- The goal is to reduce family indebtedness, estimated at R$ 300 billion, by half.
- The plan targets debts in arrears for over two years, considered unrecoverable by banks.
- The Treasury will finance the acquisition of these debts, potentially at a 90% discount.
- Debts up to R$ 10,000, including credit card and revolving credit, will be considered.
- Previous versions of the Desenrola program (2023 and May 2024) were criticized for their lack of effectiveness.
- Data from the Central Bank suggests that past programs generated more debt than they resolved.
- Despite 15 million participants, overall indebtedness has not sustainably decreased.
- The announcement coincided with Lula's ban on betting companies, a move seen in anticipation of upcoming elections.