Brazilian president Luiz Inácio Lula da Silva has vowed to “set limits “ on the “damage” the gambling industry is causing indebted families through a new national scheme which will block access to betting platforms for one year.
The Novo Desenrola Brasil progam will offer those in debt lower interest rates capped at 1.99 per cent and discounts on total debt of between 30 per cent and 90 per cent.
The scheme will be open to those who have debts on credit cards, overdrafts, revolving credit, personal loans and student loans.
The Novo Desenrola Brasil scheme was announced as part of Brazil’s…