BRASILIA, May 4 (Reuters) – Brazil relaunched on Monday a consumer debt relief program first introduced in 2023, aiming to cut interest burdens and boost disposable income ahead of President Luiz Inacio Lula da Silva’s re-election bid in October.
The revamped “Desenrola” program targets earners of up to five times the minimum wage, offering discounts of 30% to 90% on renegotiated debts, Finance Minister Dario Durigan said.
Lower interest rates will be enabled by a government guarantee backed by its Operations Guarantee Fund (FGO), which will provide up to 15 billion reais ($3.0 billion) for the program.
“The first Desenrola program absorbed about 1.8 billion reais from the FGO, so we are now…