At least 61% of debtors ‘rotate’ to choose which bills to pay, says Renato Meirelles

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Renato Meirelles, founder of Instituto Locomotiva and Data Favela explains the government’s measure to renegotiate debts of the D and E classes. people. Desenrola will help those who earn up to 2 minimum wages and have debts of up to R$5,000 to renegotiate and pay their debts in installments at interest rates well below market practice. To explain how the program will work and its impact on the country’s economy, Natuza Nery interviews Renato Meirelles, founder of Instituto Locomotiva and Data Favela. Debt renegotiation. Reproduction Renato reveals that a large part of the population that is in default acquired the debt “with credit granted while they had formal income” and that, now, they have the most diverse strategies to be able to pay the basic needs: “61% of those in debt have the habit of rotation of accounts to choose which commitments they can honor”. He also recalls that Brazilians in classes D and E were the ones who suffered the most during the pandemic. “We are talking about a portion that has the largest share of its income reserved for food. We all know that food inflation has led Brazil’s inflationary growth in recent years… This puts an end to the idea that people are in default because they are wasteful.” Listen to the full interview on the podcast O Subject “Desenrola” will renegotiate debts of up to R$5 thousand

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