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Brazil: Lula wants an interest rate ceiling of 1.97% per month for loans to retirees

President Luiz Inácio Lula da Silva proposed on Tuesday (28) that the government set at 1.97% per month the ceiling of the consigned loan interest for retirees and pensioners of the INSS (National Social Security Institute).

The suggestion occurred during a meeting this morning at the Alvorada Palace.

Now, the percentage defined by Lula must be approved by the National Council of Social Security (CNPS).

A collegiate of the organ will meet this afternoon to decide on accepting the new rate.

CRISIS OVER PAYROLL LOAN INTEREST RATES

The payroll loan interest rates crisis began with the CNPS decision . . .

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