Novo Desenrola, a program unveiled by the Brazilian government aimed at renegotiating individual debts, has benefited over 6 million people and families in its first few days, Finance Minister Dario Durigan reported.

Of this total, about 4 million people have had their debts cleared.

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“These are people with small debts of up to BRL 100,” he explained on Tuesday (Jun. 9) during an interview with the news portal UOL.

The program was created with the goal of reducing delinquency and facilitating credit recovery. The initiative primarily benefits low- and middle-income Brazilians, especially those earning up to five minimum wages per month (BRL 8,105) who have overdue bank debts.

To this end, more favorable terms than those available on the market are offered for paying off or paying debts in monthly installments.

Among its main features are discounts of up to 90 percent on the debt amount and reduced interest rates (limited to about 1.99 percent per month). Payment plans can extend up to 48 months.

Interest rates

During the interview, Minister Durigan said the high interest rates charged in Brazil have indeed been detrimental to Brazilians. However, he added, through this program, the government has been helping the people cope with this situation.

“Data from this morning show that more than 6 million people and families have benefited from Novo Desenrola in the program’s first few days,” said the minister, noting that this is a national initiative scheduled to end on August 2.

According to Durigan, “about 4 million people had their credit ratings downgraded due to small debts of up to BRL 100; and 1.1 million people have paid off their debts in a lump sum, with average discounts exceeding 80 percent.”

“These people have cleared their credit records and are once again eligible to borrow,” he pointed out.

The finance minister denied that interest rates in Brazil are high because the government spends too much.

“They stem from imbalances caused mostly by the war [between the US and Israel against Iran]. Therefore, as long as this scenario persists, we are adopting [price] subsidy measures, such as the one for gas,” he added, reaffirming that, from a fiscal standpoint, nothing has changed.

The International Monetary Fund (IMF) released a statement on Monday (Jun. 1) praising the “remarkable resilience” of the Brazilian economy in the face of the “multiple shocks” arising from the external and domestic pressures facing the country.

According to the organization, Brazil is “relatively protected from global oil price increases stemming from the war in the Middle East.”

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This assessment takes into account the country’s status as an oil exporter and the large share of renewable energy in its electricity generation.

The statements were released following the conclusion of the IMF’s annual mission to Brazil on Friday (May 29).

According to mission chief Daniel Leigh, the indicators “point to an economic recovery in early 2026,” which should lead to a “gradual strengthening of growth to around 2.5 percent in the medium term.”

Risks

Despite the positive assessment, the IMF warns of risks in the global environment.

“The risks to the growth outlook are tilted to the downside, including worsening geopolitical tensions and tightening financial conditions,” Leigh warned.

Nevertheless, the institution acknowledges that the country’s resilience rests on important pillars. “Brazil’s strong policy frameworks, robust financial system, adequate reserves, and flexible exchange rate regime continue to underpin resilience.”

The IMF considers the recent interest rate cut appropriate but urges caution in light of inflationary pressures. It also recommends maintaining and strengthening fiscal efforts to ensure debt sustainability and create room for investment.

According to the organization, structural reforms and the environmental agenda are expected to drive stronger and more inclusive growth in the medium term.

Finance

Finance Minister Dario Durigan commented on the IMF’s recognition of the Brazilian economy’s resilience and reaffirmed that the government’s main goal is to achieve sustainable annual growth of at least 4 percent.

According to him, this outcome will be driven by a significant increase in productivity.

Durigan advocated continuing the government’s efforts to improve state efficiency, “backed by political leadership capable of leading serious discussions with society on Brazil’s economic challenges and advancing a fair and sustainable growth agenda.”

According to the minister, dialogue with the IMF helps support macroeconomic management efforts aimed at balancing debt and controlling inflation, while strengthening social programs and environmental protection.

He reaffirmed the government’s fiscal commitment, even in the face of external shocks, as a way to ensure that measures to mitigate the impact of the crisis remain fiscally neutral.