Free Trial

Lula-Markets Shouldn't Have Issue w/My Gov't, I Always Ran Surpluses

BRAZIL

Comments from Brazil's President Luiz Inacio Lula da Silva hitting wires. Regarding market jitters following his taking office, Lula states that "Markets should not have issues with a Workers' Party gov't, I always oversaw primary surpluses [referring to his previous tenure as president from 2003-11]." Lula: "Everybody knows the need for a new tax policy, it is necessary that the richest pay more taxes [...] In less than 100 days we'll have some policies ready to make this country run at normal speed."

  • States that Defence Minister Jose Mucio will remain in office, with Lula saying 'I trust him'. There had been speculation Mucio could be removed following the violence in Brasilia over the weekend.
  • Lula: "What happened was a huge warning, we won the election but fanatic Bolsonaro supporters ar every dangerous...Going forward we will be tougher and even more cautious...We must find out who is funding these acts, that is what puts democracy at risk."
  • Issues stark comments on the Brazilian military: "The armed forces are not a moderating power, their task is to defend Brazil's borders and that is what I expect the'll do."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.