[REVISION HISTORY]

Brazil debt renegotiation programs and Fies updates

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2026-10-24 02:14 UTC → 2026-10-24 23:24 UTC · added ~~removed~~

The Brazilian federal government has expanded its debt renegotiation framework through several targeted initiatives. Following the conclusion of the Desenrola Fies 2026 program—which allowed students with contracts signed by 2017 to renegotiate loans through Banco do Brasil or Caixa Econômica Federal—the government launched Desenrola 3.0 via provisional measure MPV 1.393/2026. This phase introduces a strategic shift where the Union will purchase defaulted debt portfolios through auctions, requiring a minimum discount of 90% from creditors and passing 100% of those savings to debtors. Targeting debts up to R$ 10,000 overdue by 720 to 1,645 days, the program could address R$ 150 billion in eligible debt. To operationalize this, the government has summoned financial institutions and investment funds to report eligible debt volumes, with the Finance Minister estimating creditors could offer up to R$ 90 billion in old debts. On October 23, 2026, the government initiated the third phase of the Desenrola program by publishing a public notice ~~inviting~~ in an extraordinary edition of the Official Gazette. This notice invites financial institutions, banks, and credit rights investment funds (FIDCs) to ~~express interest in selling credit portfolios to~~ declare the ~~Union.~~ volume of debts they intend to offer for renegotiation. Finance Minister Dario Durigan estimated that while creditors could present up to R$ 90 billion in old debts, the maximum estimated cost to the public treasury would be R$ 9 billion due to the 90% discount requirement. ~~Financial institutions have five business days to report eligible debt volumes.~~ Following ~~this analysis,~~ the reporting period, the government plans to organize an auction, ~~currently~~ projected for November or early December, ~~prioritizing lower-income individuals and micro-entrepreneurs. Further expansions include~~ to determine which portfolios the ~~Desenrola MEI~~ Union will purchase. Additionally, the ‘Desenrola Adimplentes’ initiative has been introduced, offering informal workers and ~~Desenrola Rural programs.~~ self-employed individuals the opportunity to refinance bank loans of up to R$ 15,000. This specific program caps interest rates at 1.99% per month for those who have maintained up-to-date payments or have delays of less than 90 days.

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