According to economic indicators, in May of this year, approximately 72 million delinquent customers were identified as being in default in Brazil, representing around BRL 346 billion in bad debts.
In light with this reality, the Federal Government has introduced “Desenrola Brasil,” a plan for negotiating defaulting on debt with the aim to restore credit conditions for debtors who had bad debts from January 2019 to December 2022.
The directors of the country’s major banking institutions agree that “Desenrola” marks the end of the pandemic cycle, when society went through difficult times and many debts were incurred.
Negotiations will take place online, through “Desenrola Brasil” Program’s operational portal and will be exempt from IOF (Financial Transaction Tax). According to the Ministry of Finance, the program’s target audience is individuals who have incurred bank debts.
The renegotiation operation will be guaranteed by the Federal Government through the Operations Guarantee Fund (FGO). As a result, even if the debtor doesn’t comply with the installment plan, the creditor will receive the owed amount.
Thus far, it is estimated that around BRL 10 billion in credits have already been renegotiated, therefore, this measure represents an attempt by the Federal Government to stimulate the acceleration of the national economy, since it will have the potential to benefit approximately 70 million indebted Brazilians.