Economy: 65 Million Brazilians Will Have The Chance To Renegotiate Their Debts Starting In March

Written by Bruno Teles

Published on 27/02/2023 at 17:01

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The Brazilian Federation of Banks (Febraban), in partnership with the Central Bank, the National Consumer Secretary, and Procon, announced today a collective effort to renegotiate debts, which will take place between March 1 and 31.

During this period, Brazilians will be able to renegotiate their overdue debts directly with the banks via online channels, phone, and branches, as well as through the government portal (consumidor.gov.br). The eligible credit options include credit cards, overdrafts, payroll loans, and other forms of financing, except for those secured by collateral (such as vehicles, motorcycles, or real estate).

The number of installments, discount percentage, and other issues will be negotiated directly between the client and the financial institution. This is the second collective effort held this year; the first took place in November 2022. According to Febraban, 2.3 million contracts were renegotiated during that campaign.

Recent data shows that about 65.1 million Brazilians are delinquent. The collective effort is a great way for those who wish to renegotiate their debts and regularize their financial situation.

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Economy | Debt Renegotiation

The Central Bank of Brazil announces the start of a pilot project with the digital currency Real Digital in March, according to President Roberto Campos Neto. The new system does not require additional regulation as it will be based on the existing deposit framework.

The Central Bank of Brazil (BC) confirmed that the pilot project for its future official virtual currency, called Real Digital, will start in March 2023. BC President Roberto Campos Neto stated that the currency will be operational for the public by 2024.

“In terms of next steps, next month, we will have the pilot running”, explained Campos Neto during an event at a university in Brasília. “As we gain more certainty, the idea is to have something functioning by the end of 2024 at the latest”, he added.

The creation of the digital currency is supported by various institutions and will be based on tokenized deposits – locked and issued as tokens – with the aim of improving efficiency and digital inclusion. Thus, Campos Neto emphasizes that it will not be necessary to create specific regulation to launch the digital currency, as it will inherit all the existing deposit regulations.

Therefore, Brazilians can expect a prompt implementation of the Real Digital in the country by the end of 2024, as the pilot project will be operational next month. The President of the Central Bank of Brazil, Roberto Campos Neto, announced on Monday (27) that the pilot project for the creation of an official Brazilian digital currency – the Real Digital – will begin this March.

The goal is for this currency to be fully implemented and operational for the public by 2024. The project development involves collaboration with various financial institutions. According to Campos Neto, the digital real is an extension of the physical currency currently used by people, and it will have lower intermediation costs, greater efficiency, and digital inclusion, as well as the possibility for monetization of these resources.

Despite this, there will be no remuneration from banks for resources held in Real Digital. A new regulation will not be necessary to launch the digital currency in the country, as it inherits all existing rules for deposits. Thus, starting in March this year, more details about Real Digital will begin to be disclosed, with a complete implementation expected by 2024.

Economy: 65 Million Brazilians Will Have The Chance To Renegotiate Their Debts Starting In March

The Brazilian Federation of Banks (Febraban), in partnership with the Central Bank, the National Consumer Secretary, and Procon, announced today a collective effort to renegotiate debts, which will take place between March 1 and 31.

Economy | Debt Renegotiation

The Central Bank of Brazil announces the start of a pilot project with the digital currency Real Digital in March, according to President Roberto Campos Neto. The new system does not require additional regulation as it will be based on the existing deposit framework.

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Economy: 65 Million Brazilians Will Have The Chance To Renegotiate Their Debts Starting In March

The Brazilian Federation of Banks (Febraban), in partnership with the Central Bank, the National Consumer Secretary, and Procon, announced today a collective effort to renegotiate debts, which will take place between March 1 and 31.

Economy | Debt Renegotiation

The Central Bank of Brazil announces the start of a pilot project with the digital currency Real Digital in March, according to President Roberto Campos Neto. The new system does not require additional regulation as it will be based on the existing deposit framework.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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