debt relief
[/det rɪˈlif/]
noun
alívio da dívida
1. The reduction, cancellation, or restructuring of financial obligations owed by an individual, corporation, or government to creditors
The government implemented a debt relief program for struggling homeowners affected by the pandemic.
O governo implementou um programa de alívio da dívida para proprietários em dificuldades afetados pela pandemia.
2. Legal or financial mechanisms that allow debtors to manage or eliminate outstanding debts
Debt relief options include consolidation, forgiveness, or negotiated settlement with creditors.
As opções de alívio da dívida incluem consolidação, perdão ou acordo negociado com credores.
3. International financial assistance provided to developing nations to reduce their external debt burden
The World Bank approved debt relief for several African countries to support economic development.
O Banco Mundial aprovou alívio da dívida para vários países africanos para apoiar o desenvolvimento econômico.
In Brazil, debt relief has become increasingly relevant in recent years due to economic challenges and high consumer debt levels. Government programs like 'Feirão da Limpeza de Nome' (Name Cleaning Fair) address consumer debt issues. In the USA, the term is prominent in political discourse, particularly regarding student loan forgiveness and international development aid. The concept reflects broader concerns about financial accessibility and economic mobility in both cultures.
NYC Slang
debt forgiveness hustle / getting debts wiped
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