Lula Plans $28 Billion Debt Buyout to Aid Consumers Before Vote

Brazil's government announced plans to spend 15 billion reais to purchase up to 150 billion reais ($28 billion) in delinquent consumer debt from banks. President Luiz Inácio Lula da Silva initiated the program to reduce household debt obligations. The debt buyout is scheduled ahead of elections related to Lula's political future.

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