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Brazil proposes freezing Rio Grande do Sul's state debt payments for 3 years after deadly floods

Reuters
·1-min read

BRASILIA, May 13 (Reuters) - Brazil's government will send to Congress a bill proposing the freezing of debt payments from Rio Grande do Sul state, which has been blistered by deadly floods caused by record rains in recent weeks, the country's finance minister said on Monday.

In a broadcast virtual meeting with Rio Grande do Sul's governor and President Luiz Inacio Lula da Silva, minister Fernando Haddad said the proposed bill would freeze 11 billion reais ($2.14 billion) in debt payments for three years, and would eliminate interest charges for the same period. ($1 = 5.1507 reais) (Reporting by Bernardo Caram in Brasilia; writing by Andre Romani; Editing by Leslie Adler)