BTG says Lula debt program failed to expand credit
BTG Pactual reports that Lula’s debt program failed to expand credit. The effort helped banks but did not increase household disposable income for consumers.
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BANCO BTG PACTUAL SA reported on Monday afternoon that Brazil's consumer debt renegotiation program failed to expand credit for its beneficiaries. The study analyzed the 2023 initiative before President Luiz Inacio Lula da Silva launched a revamped version last week. The program was designed to help consumers benefit from lower unemployment and easing inflation, but failed to boost disposable income.
