Bloomberg — Brazil presidential front-runner Luiz Inacio Lula da Silva eschewed the idea of relying on an economist to communicate with markets, saying he will speak directly with investors on plans for a potential third term.
“Markets need to talk with the presidential candidate”, he said Tuesday in an interview on a local radio station. “When I’ll have interest, I’ll talk to the market.”
Lula said he has about 90 economists, including several former ministers, who are currently working on the details of his government program. Still, he said he will not elevate any one of them to the role of spokesperson.
The leftist leader who governed Brazil between 2003-2010 is expected to release his economic policy proposals in June or July. He has been critical of the country’s public spending limits and also the privatization of entities including fuel distributors. Investors are eager to hear how the former union leader will face an outlook of above-target inflation and weak growth.
Lula’s Workers’ Party has tried to convey a message of stability through meetings between its members and groups of business people. Lula’s choice for running mate, former Sao Paulo Governor Geraldo Alckmin, was also aimed in part at calming investors worried about a leftist political shift.
Incumbent Jair Bolsonaro has relied on Economy Minister Paulo Guedes to liaise with financial markets at many points during his administration.
