Lula’s Flagship Credit Program Faces Early Setback

Key Points — Private-sector payroll loan originations fell 22.5% in February to R$7.1 billion ($1.25 billion), down from R$9.2 billion ($1.6 billion) in January — Average interest rates on private consignado loans rose from 57.4% to 59.4% annually — the opposite of what Lula’s Crédito do Trabalhador program was designed to achieve — Credit card […] The post Lula’s Flagship Credit Program Faces Early Setback appeared first on The Rio Times .

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