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Lula Pledges His Government Will Be Fiscally Responsible

BRAZIL
  • “It is nice when we have demand-driven inflation, but when it’s not the case, [Central Bank] shouldn’t need to use interest rate hikes to reduce inflation,” former president Luiz Inácio Lula da Silva told the international press in Sao Paulo earlier on Monday.
    • A lot of serious work must to be done to bring the interest rate to a figure considered reasonable by the Brazilian society. (Bloomberg)
  • Lula reiterated that climate will be his administration‘s “priority zero” and that Brazil needs to contain deforestation and greenhouse emissions.
    • “We will shut down any possibility of illegal mining”. (BBG)
  • Lula also defended minimum wage increase to boost economy while pledging to be fiscally responsible.
  • As noted earlier, electoral campaigning will enter a new phase this week, with greater exposure of the main candidates on television. Kicking off will be an interview with President Bolsonaro tonight at 7:30pm Brasilia time, on Globo TV’s Jornal Nacional.
    • Candidate Lula will talk to Globo on Thursday.

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