Brazil's Novo Desenrola program aids over 6 million borrowers

Novo Desenrola is a federal program launched by Brazil's Ministry of Finance to renegotiate personal debt. It provides discounts of up to 90%, interest rates limited to about 1.99% per month, repayment terms of up to 48 months, and the option to use part of the FGTS fund to reduce balances.

Finance Minister Dario Durigan said more than 6 million people and families have benefited in the first days of the initiative, with roughly 4 million small debts cleared and 1.1 million borrowers paying off their obligations with average discounts above 80%. The scheme targets low‑ and middle‑income earners—those earning up to five minimum wages—and is set to conclude on 2 August.

Durigan also noted that Brazil's high interest environment is driven largely by external geopolitical factors, specifically the war involving the United States and Israel against Iran, and affirmed that fiscal targets remain on track.