Caixa Boss Admits Bolsa Blunder: Daily

By Ben Tavener, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The President of Caixa Econômica Federal, Jorge Hereda, has admitted that the early release of Bolsa Família payments on May 17th was intentional and planned to avoid a systems error whereby up to a million families had been registered twice by mistake, and could have been left without payments.

However, Hereda denied that problems with the company's computer systems had caused the problems, instead blaming "inaccurate information" for the mishap.

The early release of funds appears to have prompted a rumor the following day that the

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