Brazil Sets New Loan Rules to Reduce Credit Costs, Non-Payments
- Congress approves new regulatory framework for loan collateral
- Lula has sought to improve credit access to boost economy
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Brazil’s lower house of congress approved Tuesday new rules for loan guarantees in an effort to decrease non-payment risks and reduce the cost of credit, a priority for President Luiz Inacio Lula da Silva’s administration.
Lawmakers voted in favor of the bill, which already won Senate approval and will now be signed into law by the president.