Brazilian Households Experience Growing Defaults in the Face of High Interest Rates

Brazilians are struggling to pay their debts on time, with four out every ten adults facing default, as central bankers keep monetary policy tight in an effort to bring inflation back to their target.

Overdue debts grew 18.42% in April from a year ago, according to data from the national confederation of shopkeepers reported by news site Poder360. The number of Brazilians facing default also grew around 8%, with most battling debts with local banks, the confederation said.

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