Lula Plans $28 Billion Debt Buyout to Aid Consumers Before Vote
Brazil's government plans to spend 15 billion reais to buy up to 150 billion reais in delinquent consumer debt. The initiative aims to reduce household financial strain and support President Lula da Silva's reelection bid.
Brazil’s government plans to spend 15 billion reais to buy as much as 150 billion reais ($28 billion) of delinquent consumer debt from banks, part of President Luiz Inácio Lula da Silva’s push to ease the financial strain on households and bolster his bid for a fourth term.
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