Brazil Proposes 2.5B Debt Relief
Brazil announced a bill to forgive 2.5 billion dollars in government debt for millions of micro entrepreneurs. The government also launched a program to purchase private sector debt with steep discounts to boost economic activity.
Brazil submitted a bill to Congress on Tuesday evening to forgive 12.6 billion reais ($2.51 billion) in debt for micro-entrepreneurs. The relief package targets approximately 3.6 million self-employed workers and small business owners. The initiative seeks to expand economic activity for small business categories as the country approaches a presidential election runoff.
