President Luiz Inácio Lula da Silva's government plans a new credit package allowing renegotiated debts to be paid over up to four years. The program, tentatively called Desenrola 2, covers credit cards, overdrafts and non-payroll personal loans. The announcement is expected by month's end.
Finance Minister Dario Durigan finalized the program's technical details on Monday (27th) in a meeting with CEOs of public and private banks and banking sector entities. The final model still requires political approval and President Lula's sign-off.
The initiative targets debts overdue by more than 91 days up to two or three years, for individuals earning up to five minimum wages (R$ 8,105). Banks can consolidate balances from the three credit lines per CPF, offering discounts of 40% to 90% and a maximum interest rate of 1.99% per month — far below current rates of 5% to 15%.
Old debts will be settled and replaced with new ones at lower rates, backed by the Fundo de Garantias de Operações (FGO) fund, which will receive between R$ 5 billion and R$ 10 billion. The program will initially last three months, with participants anticipating high demand due to the limited fund.
A new FGTS withdrawal option will also be available specifically for these debts. Anonymous negotiation sources indicated that final terms will vary by each bank's appetite.
