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Brazil's economic history is marked by turbulent times, and one of the most significant was during the government of Fernando Collor. Now, almost half a million Brazilians have the opportunity to receive amounts lost during that era.
This development comes as a relief to many who have faced financial losses due to controversial economic policies. Learn more about who will be eligible to receive the money.
The legacy of economic plans
In the 1990s, Brazil was struggling with hyperinflation, and the Collor government implemented drastic measures, including the famous confiscation of savings accounts. However, this action resulted in significant losses for many Brazilians.
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After decades of legal battles, some 470,000 people may finally see a return on their investments. Most of the payments are estimated to be worth up to R$30,000, but some are entitled to receive amounts exceeding R$100,000.
How to claim your money from the Collor era
So, for those who wonder how to recover these amounts, the answer lies in the Collective Agreement for Economic Plans. This agreement, the largest ever signed by the Brazilian judiciary, involves the Brazilian Front for Savers (Febrapo), the Brazilian Institute for Consumer Protection (Idec), Febraban, the Attorney General's Office (AGU) and the Central Bank of Brazil.
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Approved by the Supreme Federal Court (STF) in 2018, it has already benefited more than 300,000 people. To join, it is necessary to have an open legal process related to these economic plans. Joining is free and voluntary, and promises to be the fastest and safest way to obtain financial justice.
As such, this announcement represents a significant milestone for many Brazilians who have been patiently waiting for economic justice. As such, this is an opportunity to close a difficult chapter in the country’s financial history and bring relief to hundreds of thousands of citizens.
Image: (Fabio Rodrigues Pozzebom/Agência Brasil)
