Brazil's government has announced a new phase of its debt renegotiation program, Desenrola 3.0, according to Brasil 247. The plan is expected to offer discounts of up to 90% on debts, CNN Brasil reports.
Under the program, the federal government will purchase debts, GZH reports. The measure is projected to cost R$ 15 billion in public funds, according to CBN.
Febraban, Brazil's banking federation, said it expects the program to improve conditions in the credit market, according to Folha de S.Paulo.
Brasil 247 published an explainer on how Desenrola 3.0 will operate, while GZH detailed the mechanics of the government's debt purchases. The announcement follows earlier phases of the Desenrola program, though the reporting summarized here does not specify how the new phase differs from previous ones.
The R$ 15 billion cost estimate and the 90% discount ceiling are the main figures reported so far. The program's design involves the government acquiring debts directly, a structure GZH covered in its report.
What to watch next: further details on eligibility rules and the timeline for when debt purchases and renegotiations will begin.
