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Haddad announces agreement to suspend RS debt for 3 years with interest reduction to zero

The Minister of Finance, Fernando Haddad, announced on Monday the suspension for three years of payments of the debt installments of Rio Grande do Sul with the Union, a measure that relieves the state coffers in the environmental and social disaster caused by the heavy rains of last few weeks.

The installments that will no longer be paid amount to a total of approximately 11 billion reais. The initiative also provides that for the same period the interest on the state debt on the entire stock will be eliminated, which on this front represents an amnesty of 12 billion reais.

Source: Terra

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