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Your Daily Update on the Brazilian Elections

September 18, 2018 by

• Haddad: Lula will be “chief advisor” but without benefit of pardon. Workers’ Party (PT) presidential nominee Fernando Haddad told supporters that, if elected, he will consult former President Lula as his “chief advisor.” However, he denied any plans to issue a pardon for Lula, currently in jail serving time for corruption. (see more here and here)

• Ciro Gomes: Central Bank needs new focus, inflation-targeting an “atrocity.” Leftist presidential contender Ciro Gomes told interviewers he will alter the Central Bank’s mandate to include a focus on unemployment, as well as inflation. He said Brazil’s inflation-targeting program, in place since 1999, is “an atrocity” because it ties the hands of economic policy-makers. (see more)

• Bolsonaro to maintain spending cap, says campaign advisor. Conservative presidential candidate Jair Bolsonaro will maintain the current administration’s reliance on an annual spending cap as part of the solution to Brazil’s fiscal crisis. The comments came from economic advisor Carlos da Costa. Bolsonaro is currently hospitalized following a stabbing incident. (see more)

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