The Desenrola Program, With a R$ 20 Billion Investment, Will Have Limited Reach to "Clear" Brazilians' Debts

The Desenrola Program, With a R$ 20 Billion Investment, Will Have Limited Reach to “Clear” Brazilians’ Debts

Written by Bruno Teles

Published on 15/02/2023 at 16:57

programa Desenrola (Foto/divulgação)

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Desenrola, The Debt Renegotiation Program Promised By Lula During The Campaign, Is Not Enough To Cover All Citizens With Debts Up To R$ 5,000 Due By July Last Year And Earning Up To 2 Minimum Wages.

The fund allocated by the National Treasury To Secure These Operations Has A Limit Of Only R$ 20 Billion, Meaning Some Debts Will Not Be Covered. The Economic Team Was Informed That It Will Not Be Possible To Resolve The Debts Of All Brazilians With Outstanding Credit. However, The Program Presented To Lula, According To Preliminary Analyses, Could Make A Difference.

The Program Provides For The Renegotiation Of The Debts Of Brazilians Earning Up To Two Minimum Wages (R$ 2,600) And Having Debts Of Up To R$ 5,000 Due For More Than 180 Days As Of December 31 Last Year. The Chosen Bank Will Pay The Debt To The Creditor And Make A New Loan With A Discount For The Client, With An Interest Rate Of 1.99% Per Month. If The Client Fails To Pay Again, Their Name Will Be Included On The List Of Delinquents; On The Other Hand, The Bank Will Have The Right To A Contract With The National Treasury Covering 100% Of The Loan Amount.

Program Guarantees End Of Debts For Those Earning Up To 2 Minimum Wages

YouTube video — Via Felipe Brito Oficial

If Lula Disagrees With The Agreement, All Involved Parties Must Meet Again To Adjust The Terms. However, If He Accepts The Proposal, The Program Could Be Announced Close To Carnival, With Changes To The Personal Income Tax And The Minimum Wage Amount.

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Phases Of The Desenrola Program

Program Participation. The Large Banks That Helped In The Initial Formatting Showed Availability To Join The Program.

The Auction Conducted By The Government Will Allow Creditors To Offer Discounts On The Debts They Have To Collect. After This Step, The Government Will Determine Which Sectors Will Receive More Guarantee Funds And What The Debt Due Date Will Be. The Government Created A Page Online For Consumers To Check Which Debts Are Eligible For Desenrola And To Choose A Financial Institution To Complete The Transaction.

The Economic Team Established As A Condition That Creditors Clear The Names Of Those With Debts Up To R$ 100 Even Before Payment, As Soon As They Win The Auction. A Program Called Would Allow Creditors To Receive Resources They Had Already Given Up On Recovering. If Accepted By Lula, This Would Mean That Debtors Would Be Removed From The List Of Delinquents, Opening The Way For New Loans, Job Applications, And Rental Agreements.

However, The Technicians Involved In The Discussions Emphasize That The Implementation Of The Program Will Be Complex And Will Take Some Time To Define Details Such As Auction Modeling And Who Will Operate The System.

The Desenrola Program, With a R$ 20 Billion Investment, Will Have Limited Reach to “Clear” Brazilians’ Debts

Desenrola, The Debt Renegotiation Program Promised By Lula During The Campaign, Is Not Enough To Cover All Citizens With Debts Up To R$ 5,000 Due By July Last Year And Earning Up To 2 Minimum Wages.

Program Guarantees End Of Debts For Those Earning Up To 2 Minimum Wages

Phases Of The Desenrola Program

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The Desenrola Program, With a R$ 20 Billion Investment, Will Have Limited Reach to “Clear” Brazilians’ Debts

Desenrola, The Debt Renegotiation Program Promised By Lula During The Campaign, Is Not Enough To Cover All Citizens With Debts Up To R$ 5,000 Due By July Last Year And Earning Up To 2 Minimum Wages.

Program Guarantees End Of Debts For Those Earning Up To 2 Minimum Wages

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