BoT urges banks to ease debt and extend fresh loans

Possible relief measures include allowing borrowers to pay interest only, cutting instalments, reducing interest rates and applying repayments to principal before interest. The central bank said such support should apply across all loan categories, including hire-purchase and leasing for cars and motorcycles, car-title loans and supervised personal loans. Lenders were also asked to clearly explain…

Brazil eyes new debt relief with federal guarantees for consumers | WTAQ News Talk | 97.5 FM · 1360 AM

By Bernardo Caram BRASILIA, April 7 (Reuters) – Brazil’s government is preparing a new credit renegotiation program backed by federal guarantees to curb rising household debt, two sources with direct knowledge of the matter said. The initiative, expected ​to be announced this week, revives a strategy used early in ‌President Luiz Inacio Lula da Silva’s…