By Marcela Ayres
BRASILIA, May 4 (Reuters) – Brazil relaunched on Monday a broad consumer debt relief program first introduced in 2023, to cut interest burdens and boost disposable income ahead of President Luiz Inacio Lula da Silva’s reelection bid in October.
The new “Desenrola” program targets earners of up to five times the minimum wage per month with discounts ranging from 30% to 90%, Finance Minister Dario Durigan said during an event at the presidential palace.
Lower interest rates on renegotiated debts will be enabled by a government guarantee backed by its Operations Guarantee Fund (FGO), which will receive up to 5 billion reais ($1.01 billion) from the Treasury.
Durigan said the FGO currently holds about 2…