International

Lula transition team invites experts who helped stabilize Brazil’s economy in the 1990s – sources

By Marcela Ayres

BRASILIA (Reuters) – Brazilian President Luiz Inácio Lula da Silva’s transition team has invited two economists, Persio Arida and Andre Lara Resende, who helped design the Real Plan that stabilized the economy in the 1990s, two sources said. with expertise. on Saturday.

Speaking on condition of anonymity, the sources added that another economist Guilherme Mello, who leads the team drafting economic proposals for Lula at left-wing think tank Perseu Abramo, had also been invited to the transition group.

The three names were first reported in the Brazilian newspaper O Estado de S.Paulo.

Lula, who took office on Jan. 1, won a runoff election against President Jair Bolsonaro last Sunday, but has been questioned for failing to provide details about his economic program.

Lula has not yet said who will lead the Treasury Department in his government, leading to widespread speculation in the markets of Latin America’s largest economy.

Vice President-elect Geraldo Alckmin had already announced that the transition team members would be announced on Monday. Some of them are expected to be further appointed to cabinet posts by Lula.

Arida, an orthodox economist well-regarded by the market and close to Alckmin, was appointed by him to the transition team, one of the sources said.

Arida has held positions in public administration since the 1990s, including chairmanship of the central bank and the development bank BNDES.

Lara Resende, a frequent interlocutor of economists from Lula’s Workers’ Party (PT), was appointed to counter Arida’s more traditional economic views, the source said.

Lara Resende has already argued that a constitutional spending cap was strangling public investment, which he sees as a mistake.

Lula has repeatedly said he will end the spending cap, without explaining which fiscal anchor it will replace.

Mello and Arida did not immediately respond to a request from Reuters for comment, while Lara Resende was not immediately available.

(Reporting by Marcela Ayres; editing by Grant McCool)

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button