A Provisional Measure establishing a programme that will allow debtors to renegotiate overdue debts was signed on Monday during a ceremony at the Palace. Participants who join the programme will be barred from playing on online platforms.
The Brazilian government officially unveiled the Novo Desenrola Brasil on Monday.
To make the programme feasible, the government negotiated with banks to reduce interest rates on debts that are between 90 days and two years past due. This applies to default rates on credit cards, overdrafts and personal loans. The renegotiated debt will be subject to discounts ranging from 30% to 90%, with a maximum interest rate of 1.99% per month. The programme will prevent its members from placing online…