Lula’s reelection bid

Marketplace Staff Jun 23, 2006

TEXT OF STORY

MARK AUSTIN THOMAS: Brazilian President Lula da Silva is expected to announce his candidacy for a second term this weekend. But unlike other left-leaning leaders of Latin America, Lula doesn’t scare away the legions of foreigners investing in the region’s biggest economy. That’s because the fiery former union leader already has a track record of business-friendly policies. From Rio de Janeiro, Paulo Prada has more.


PAULO PRADA: Red flags and other socialist symbols will be waving at this weekend’s Workers Party convention. Delegates are expected to pick Lula as their standard-bearer for October’s presidential election.

But Lula’s a far cry from leaders in nearby Venezuela and Bolivia. Despite a history of anti-capitalist rhetoric, Lula as president has pursued policies that have benefited Brazil’s economy.

His government has cut the foreign debt by 25 percent, controlled inflation and posted a budget surplus each of the past four years.

Luciano Dias is a political consultant in Brazil’s capital, Brasilia.

[Luciano Dias comments in Portuguese ]

He says businesspeople have grown to trust Lula with the economy.

Challenging Lula is conservative Gerlado Alckmin of Sao Paulo. But every poll taken so far has him trailing Lula by a wide margin.

In Rio de Janeiro, this is Paulo Prada, for Marketplace.

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