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After a detailed investigation, the federal government decided to increase the debt limit of the Desenrola program.
Soon, the federal government will implement a new stage of the Desenrola program. According to official data, the Ministry of Finance conducted a meticulous analysis of the country's delinquency, resulting in the revision of some fundamental regulations of the debt reconciliation program.
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Initially, the project aimed to assist individuals with a per capita income of up to two minimum wages, with debts of up to R$ 5,000 incurred by December 31 of the previous year. However, this guideline will undergo changes.
In the current phase, the Ministry's intention is to include people with a per capita income of up to two minimum wages who accumulated debts of up to R$ 20,000 by the end of December last year. Even so, the priority remains individuals with outstanding debts of up to R$ 5,000.
Such debts of up to R$ 5 thousand will continue to be incorporated into the guarantee fund system, that is, when the agreed amount is not paid by the citizen, the federal government will intervene, reimbursing the amount to the company. Thus, the creditor is guaranteed to receive the established amount.
It is worth noting that the federal government allocated R$ 8 billion to the guarantee fund, an amount that will be used for negotiations not honored by citizens in default.
Gains from renegotiation
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Estimates from the Ministry of Finance suggest that debts of R$ 5 thousand represent approximately R$ 78.9 billion in negotiable amounts, equivalent to approximately 65.9 million debts. Considering all debts, including those exceeding R$ 5 thousand, the federal government's expectation is to renegotiate up to R$161.3 billion.
Desenrola Auction
Between next Monday (25) and Wednesday (27), the federal government is expected to conduct the discount auction. The proposal is for creditors to present discount offers they are willing to grant to customers, with only the most advantageous offers being selected by the Ministry of Finance.
Banks, retailers, water and sanitation companies, and electricity distributors have the opportunity to participate in this auction by proposing discounts in the negotiations. After reassessments by the Ministry of Finance, 709 companies are eligible to participate in next week’s session.
The federal government aims to finalize the discounts proposed by creditors at an average of 90% per lot, with the average minimum bid set at 58%. However, representatives of the Ministry of Finance acknowledge that it is impossible to anticipate the extent of the discounts.
The goal is to overcome delinquency
Read also: Desenrola Brasil begins second renegotiation phase: Find out who can benefit now
Even with adjustments to the Desenrola system, the federal government's purpose remains unchanged. The commitment is to persist in the effort to reduce national default rates. Marcos Barbosa Pinto, Secretary of Economic Reforms at the Ministry of Finance, stated, “The program has a social character. In light of the pandemic, over-indebtedness intensified. Our goal is to provide relief to the most disadvantaged population. Additionally, people will be able to rehabilitate their credit, resuming consumption and boosting the economy, especially at the end of the year, a period of greater activity in retail.”
If the federal government's plans materialize as projected, the expectation is that the agreed discounts will be made available as early as the first week of October.
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So far, a recent report by the Brazilian Federation of Banks (Febraban) highlighted a total of R$ 13.2 billion in financial amounts negotiated during the initial phase of Desenrola.
