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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.


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

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