Perspectives on the Brazilian elections

What to expect of Lula’s Second Term

The upcoming months will bring tough challenges for Da Silva who has been criticized for Brazil’s slow economic growth. He has repeatedly announced that he believes his country’s economy can grow from 5% to 6%. But Brazil’s economy is only expected to grow about 3% this year. Will Lula sacrifice his popularity and make deep economic and fiscal reforms for the country to grow at 5%?

Brazil: the Victory of Fiction

How easy it was for voters to dismiss well documented accusations about what Lula’s administration had done in the past and to believe instead in the fake conjectures about what the opposition would do in the future if elected. Nothing indicated that Geraldo Alckmin would do away with social programs or privatize oil giant Petrobrás. Evidence showed that Lula was corrupt and a liar. In the voting, fiction defeated reality.

NEWS:

• World Bank projects 3.5% growth for Brazilian economy. Brazil to decide on new Bolivia energy investment within four months. Brazil’s Petrobras to do more business with China.
• Russia’s Prime Minister on tour to visit several Latin American countries. Cuba and Russia review bilateral relations.
• Bolivia: fear of geographic fissure over Morales’ new Constitution. Bolivia and Ecuador targeting Mercosur. Mercosur setting up Parliament.
• Ecuador’s President-elect Correa to restructure country’s debt. Environmentalist named Ecuador Foreign Minister. Threat to recall envoy in Colombia over fumigation of drug crops on their border.
• Oaxaca and Mexico Government meet.
• Venezuela offers Argentina financing of Gas Pipeline. Sancor deal guarantees 3 million of milk to Venezuela. Venezuela advocates OPEC output cut of 50,000 bpd. Venezuela and Brazil to build oil tankers. World Bank notices overheating in Argentina and Venezuela.
• Peru official says Occidental decision to pull out is worrying. Peru Oil find may double production. Peru and Venezuela smooth differences.
• US Congress to extend trade preferences to Andean Nations.
• Chile: 145 arrested after Pinochet’s death.
• Nicaragua: Ortega to meet private Businesspeople. IMF asks Ortega for structural change.

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