Brazil’s Lula vows to renegotiate household debts if elected

RIO DE JANEIRO (AP) — Former Brazilian President Luiz Inácio Lula da Silva is pledging to renegotiate household debts if he wins October’s election. His promise during a prime-time TV interview Thursday night is his latest enticing pledge seeking to win the support of tens of millions of Brazilians experiencing hardship at a time when inflation is running at nearly 10%. Da Silva said almost 70% of Brazilian families are in debt. His comment came a day after U.S. President Joe Biden announced that some Americans will receive up to $10,000 in federal student loan debt forgiveness. Da Silva has already hinted he likely would keep in place the sharp boost to social welfare payments approved recently. Those increases are part of incumbent President Jair Bolsonaro’s efforts to bolster his reelection bid.