Brazil Bans Online Betting and Unveils Debt Relief
Brazilian President Lula announced a ban on online betting and a new debt relief program to help households. The executive order targets growing financial distress and indebtedness. The government will spend billions to restructure delinquent loans.
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Brazil banned online betting operations and unveiled a 15 billion-reais debt relief program on Friday, targeting household finances ahead of next month's election. The executive order takes immediate effect but requires congressional approval within 120 days.
