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RIO DE JANEIRO, BRAZIL - The economic crisis triggered by Covid-19 in the country has raised unemployment to record levels and caused the closure of countless companies. But, contrary to what might have been expected, the loan default levels, whether of individuals or companies, have declined.

According to experts, this surprising scenario is the direct result of emergency aid, rescue programs for small and micro companies, and also the interest rate at record low levels, which allowed banks to renegotiate debts. At the peak of the pandemic, financial institutions also deferred repayments by 60 days.

The main question is how . . .

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