Brazil launches Desenrola Adimplentes for informal workers

The Brazilian Federal Government has launched ‘Desenrola Adimplentes’, a new program designed to assist informal workers in renegotiating high-interest debts. The initiative allows eligible individuals to replace existing expensive loans with new credit lines featuring interest rates as low as 1.99% per month.

To qualify, participants must be informal workers or self-employed individuals without access to payroll-deductible loans (consignado). Specific eligibility criteria include having paid at least four installments of the original loan and being either up to date with payments or having a maximum delay of 90 days. The program targets outstanding balances of up to R$ 15,000 per financial institution.

It is important to note that the program does not forgive debt or provide free funds; rather, it facilitates the contraction of a new, more affordable loan to settle the previous one. Approval is subject to the participation of financial institutions and individual risk assessments by the banks.