IBOV 174,701.12 ▲ 0.38% IPSA 10,971.24 ▲ 0.19% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,291,997 ▲ 0.25% COLCAP 2,270.31 ▼ 0.19% BVL PERÚ 57,237.60 — — USD/BRL5.11▲ 0.43% USD/MXN17.45▼ 0.20% USD/CLP940.87▼ 0.85% USD/COP3,200▼ 0.51% USD/PEN3.40▼ 0.10% USD/ARS1,497▲ 0.03% USD/UYU40.15▲ 0.03% USD/PYG6,020▼ 0.02% USD/BOB11.32▲ 1.25% USD/DOP58.07▲ 0.14% USD/CRC449.99▲ 0.18% USD/GTQ7.62▼ 0.09% USD/HNL26.75▲ 0.02% USD/NIO 36.62 — 0.00% USD/VES740.37▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.01% USD/TTD6.75▲ 0.59% EUR/BRL5.80▲ 0.37% BRENT 88.85 ▼ 8.19% WTI 82.65 ▼ 7.46% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.97% GOLD 4,077 ▲ 0.24% SILVER 58.72 ▲ 0.10% SOY 1,213 ▼ 2.82% CORN 473.00 ▲ 1.88% WHEAT 661.75 ▼ 2.40% COFFEE 324.70 ▲ 3.47% SUGAR 14.56 ▼ 1.42% ORANGE JUICE 142.40 ▲ 0.46% COTTON 80.85 ▲ 2.93% COCOA 5,146 ▼ 4.28% BEEF 218.48 ▼ 3.79% CATTLE 331.20 ▼ 4.09% LITHIUM 68.22 ▲ 0.60% PETR4 41.14 ▼ 2.53% VALE3 75.16 ▼ 0.11% ITUB4 42.40 ▲ 0.71% BBDC4 18.68 ▲ 1.08% ABEV3 15.63 ▼ 0.06% BBAS3 20.53 ▲ 0.88% B3SA3 15.71 ▲ 1.75% WEGE3 45.97 ▼ 0.04% PRIO3 56.14 ▼ 4.56% SUZB3 41.78 ▼ 0.14% RENT3 37.41 ▲ 1.41% AZZA3 16.96 ▲ 1.86% CSAN3 3.91 ▲ 2.89% RAIZ4 0.25 ▼ 3.85% PCAR3 2.86 ▲ 2.51% GMAT3 3.85 ▲ 1.58% PSSA3 53.99 ▼ 1.44% CVCB3 1.38 ▲ 2.99% POSI3 3.61 ▲ 1.69% SLCE3 13.45 ▼ 1.39% NATU3 8.55 ▲ 2.03% BRKM5 6.15 ▲ 0.82% RANI3 7.98 ▲ 0.38% CSNA3 5.60 ▲ 4.48% CMIN3 5.75 ▲ 1.05% USIM5 8.53 ▲ 0.59% GGBR4 24.32 ▲ 0.25% ENEV3 25.44 ▲ 2.17% CPFE3 44.75 ▼ 0.75% CMIG4 11.10 ▲ 1.09% EQTL3 38.65 ▲ 0.81% LREN3 13.70 ▲ 3.24% VIVT3 36.07 ▲ 2.14% RAIL3 13.66 ▲ 0.66% KLABIN 17.67 ▲ 0.86% RAIA DROGASIL 18.14 ▲ 0.89% RDOR3 33.74 ▲ 1.08% HAPV3 10.34 ▲ 4.23% FLRY3 16.57 ▲ 1.91% SMTO3 14.80 ▼ 1.66% UGPA3 32.18 ▼ 1.62% VBBR3 34.49 ▼ 1.74% BBSE3 40.43 ▼ 2.55% BPAC11 55.61 ▲ 1.72% CURY3 30.38 ▲ 3.51% AERI3 2.04 — 0.00% VIVARA 21.94 ▲ 2.43% COMPASS 25.28 ▲ 2.10% VAMOS 3.20 ▲ 1.59% SANB11 27.07 ▲ 2.77% ASAI3 8.08 ▲ 2.93% SBSP3 28.64 ▲ 0.92% WALMEX 48.96 ▲ 1.83% GMEXICO 208.62 ▲ 0.65% FEMSA 229.20 ▲ 3.24% CEMEX 21.21 ▲ 0.33% GFNORTE 196.59 ▲ 2.25% BIMBO 59.36 ▲ 1.80% TELEVISA 10.05 ▲ 2.45% AMX 22.56 ▼ 1.10% GAP 380.06 ▲ 0.81% ASUR 272.15 ▲ 1.64% OMA 228.47 ▲ 1.03% KOF 188.11 ▲ 4.86% GRUMA 269.61 ▲ 0.65% KIMBER 39.86 ▲ 0.56% SQM-B 64,762 ▼ 0.90% COPEC 6,264 ▼ 1.05% BSANTANDER 81.03 ▲ 2.16% FALABELLA 6,130 ▲ 2.33% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,960 ▲ 0.10% CMPC 1,034 ▲ 0.85% BANCO CHILE 194.80 ▲ 0.88% LATAM AIR 24.70 ▲ 3.43% YPF 81,250 ▼ 0.91% GGAL 7,985 ▲ 1.20% PAMPA 5,470 ▼ 0.82% TXAR 667.00 ▼ 1.04% ALUAR 975.00 ▲ 0.31% TGS 9,755 ▼ 0.10% CEPU 2,370 ▲ 0.21% MIRGOR 16,350 ▼ 1.06% COME 42.83 ▲ 0.99% LOMA NEGRA 3,675 ▲ 1.80% BYMA 301.50 ▲ 0.33% TELECOM ARG 4,405 ▲ 0.57% ECOPETROL 15.77 ▼ 1.50% BANCOLOMBIA 87.55 ▲ 1.79% GRUPO AVAL 4.78 — 0.00% CREDICORP 389.40 ▲ 0.25% SOUTHERN COPPER 174.90 ▼ 2.45% BUENAVENTURA 31.35 ▲ 1.42% MERCADOLIBRE 1,833 ▲ 1.77% NUBANK 14.45 ▲ 2.56% XP 16.87 ▲ 1.08% PAGSEGURO 9.40 ▲ 2.17% STONE 10.97 ▲ 1.91% GLOBANT 33.41 ▲ 6.74% TECNOGLASS 45.19 ▼ 0.24% GAP AIRPORT 217.60 ▲ 0.61% ASUR 272.15 ▲ 1.64% OMA AIRPORT 104.87 ▲ 1.39% AMX ADR 25.79 ▼ 0.85% FEMSA ADR 131.29 ▲ 3.28% CEMEX ADR 12.13 ▲ 0.58% PETROBRAS ADR 18.12 ▼ 3.48% VALE ADR 14.68 ▼ 0.78% ITAU ADR 8.30 ▲ 0.24% SANTANDER BR 5.43 ▲ 2.45% AMBEV ADR 3.04 ▼ 0.82% CSN 1.11 ▲ 2.78% GERDAU 4.79 ▼ 0.52% LATAM ADR 52.26 ▲ 4.20% BTC 64,971 ▼ 0.56% ETH 1,941 ▼ 0.64% SOL 75.99 ▼ 0.80% XRP 1.09 ▼ 1.62% BNB 573.61 ▼ 0.16% ADA 0.16 ▼ 3.93% DOGE 0.07 ▼ 1.65% AVAX 6.58 ▼ 2.29% LINK 8.63 ▼ 2.09% DOT 0.80 ▼ 3.76% LTC 46.53 ▼ 2.64% BCH 215.85 ▼ 0.44% TRX 0.33 ▼ 1.13% XLM 0.18 ▼ 2.94% HBAR 0.07 ▼ 2.01% NEAR 1.77 ▼ 3.37% ATOM 1.36 ▼ 3.10% AAVE 99.38 ▼ 2.10% SELIC 14.25% EMBRAER 86.28 ▲ 4.58% EMBRAER ADR 67.72 ▲ 4.30% JBS 13.51 ▲ 9.98% JBS BDR 68.81 ▲ 10.91% MBRF3 15.60 ▲ 5.12% MBRFY 3.02 ▲ 2.72% INTER 5.55 ▲ 4.82% IBOV 174,701.12 ▲ 0.38% IPSA 10,971.24 ▲ 0.19% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,291,997 ▲ 0.25% COLCAP 2,270.31 ▼ 0.19% BVL PERÚ 57,237.60 — — USD/BRL 5.11 ▲ 0.43% USD/MXN 17.45 ▼ 0.20% USD/CLP 940.85 ▼ 0.85% USD/COP 3,200 ▼ 0.51% USD/PEN 3.40 ▼ 0.10% USD/ARS 1,497 ▲ 0.03% USD/UYU 40.15 ▲ 0.03% USD/PYG 6,020 ▼ 0.02% USD/BOB 11.32 ▲ 1.25% USD/DOP 58.07 ▲ 0.14% USD/CRC 449.99 ▲ 0.18% USD/GTQ 7.62 ▼ 0.09% USD/HNL 26.75 ▲ 0.02% USD/NIO 36.62 — 0.00% USD/VES 740.37 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.21% USD/TTD 6.75 ▲ 1.28% EUR/BRL 5.80 ▲ 0.37% BRENT 88.85 ▼ 8.19% WTI 82.65 ▼ 7.46% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.97% GOLD 4,077 ▲ 0.24% SILVER 58.72 ▲ 0.10% SOY 1,213 ▼ 2.82% CORN 473.00 ▲ 1.88% WHEAT 661.75 ▼ 2.40% COFFEE 324.70 ▲ 3.47% SUGAR 14.56 ▼ 1.42% ORANGE JUICE 142.40 ▲ 0.46% COTTON 80.85 ▲ 2.93% COCOA 5,146 ▼ 4.28% BEEF 218.48 ▼ 3.79% CATTLE 331.20 ▼ 4.09% LITHIUM 68.22 ▲ 0.60% PETR4 41.14 ▼ 2.53% VALE3 75.16 ▼ 0.11% ITUB4 42.40 ▲ 0.71% BBDC4 18.68 ▲ 1.08% ABEV3 15.63 ▼ 0.06% BBAS3 20.53 ▲ 0.88% B3SA3 15.71 ▲ 1.75% WEGE3 45.97 ▼ 0.04% PRIO3 56.14 ▼ 4.56% SUZB3 41.78 ▼ 0.14% RENT3 37.41 ▲ 1.41% AZZA3 16.96 ▲ 1.86% CSAN3 3.91 ▲ 2.89% RAIZ4 0.25 ▼ 3.85% PCAR3 2.86 ▲ 2.51% GMAT3 3.85 ▲ 1.58% PSSA3 53.99 ▼ 1.44% CVCB3 1.38 ▲ 2.99% POSI3 3.61 ▲ 1.69% SLCE3 13.45 ▼ 1.39% NATU3 8.55 ▲ 2.03% BRKM5 6.15 ▲ 0.82% RANI3 7.98 ▲ 0.38% CSNA3 5.60 ▲ 4.48% CMIN3 5.75 ▲ 1.05% USIM5 8.53 ▲ 0.59% GGBR4 24.32 ▲ 0.25% ENEV3 25.44 ▲ 2.17% CPFE3 44.75 ▼ 0.75% CMIG4 11.10 ▲ 1.09% EQTL3 38.65 ▲ 0.81% LREN3 13.70 ▲ 3.24% VIVT3 36.07 ▲ 2.14% RAIL3 13.66 ▲ 0.66% KLABIN 17.67 ▲ 0.86% RAIA DROGASIL 18.14 ▲ 0.89% RDOR3 33.74 ▲ 1.08% HAPV3 10.34 ▲ 4.23% FLRY3 16.57 ▲ 1.91% SMTO3 14.80 ▼ 1.66% UGPA3 32.18 ▼ 1.62% VBBR3 34.49 ▼ 1.74% BBSE3 40.43 ▼ 2.55% BPAC11 55.61 ▲ 1.72% CURY3 30.38 ▲ 3.51% AERI3 2.04 — 0.00% VIVARA 21.94 ▲ 2.43% COMPASS 25.28 ▲ 2.10% VAMOS 3.20 ▲ 1.59% SANB11 27.07 ▲ 2.77% ASAI3 8.08 ▲ 2.93% SBSP3 28.64 ▲ 0.92% WALMEX 48.96 ▲ 1.83% GMEXICO 208.62 ▲ 0.65% FEMSA 229.20 ▲ 3.24% CEMEX 21.21 ▲ 0.33% GFNORTE 196.59 ▲ 2.25% BIMBO 59.36 ▲ 1.80% TELEVISA 10.05 ▲ 2.45% AMX 22.56 ▼ 1.10% GAP 380.06 ▲ 0.81% ASUR 272.15 ▲ 1.64% OMA 228.47 ▲ 1.03% KOF 188.11 ▲ 4.86% GRUMA 269.61 ▲ 0.65% KIMBER 39.86 ▲ 0.56% SQM-B 64,762 ▼ 0.90% COPEC 6,264 ▼ 1.05% BSANTANDER 81.03 ▲ 2.16% FALABELLA 6,130 ▲ 2.33% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,960 ▲ 0.10% CMPC 1,034 ▲ 0.85% BANCO CHILE 194.80 ▲ 0.88% LATAM AIR 24.70 ▲ 3.43% YPF 81,250 ▼ 0.91% GGAL 7,985 ▲ 1.20% PAMPA 5,470 ▼ 0.82% TXAR 667.00 ▼ 1.04% ALUAR 975.00 ▲ 0.31% TGS 9,755 ▼ 0.10% CEPU 2,370 ▲ 0.21% MIRGOR 16,350 ▼ 1.06% COME 42.83 ▲ 0.99% LOMA NEGRA 3,675 ▲ 1.80% BYMA 301.50 ▲ 0.33% TELECOM ARG 4,405 ▲ 0.57% ECOPETROL 15.77 ▼ 1.50% BANCOLOMBIA 87.55 ▲ 1.79% GRUPO AVAL 4.78 — 0.00% CREDICORP 389.40 ▲ 0.25% SOUTHERN COPPER 174.90 ▼ 2.45% BUENAVENTURA 31.35 ▲ 1.42% MERCADOLIBRE 1,833 ▲ 1.77% NUBANK 14.45 ▲ 2.56% XP 16.87 ▲ 1.08% PAGSEGURO 9.40 ▲ 2.17% STONE 10.97 ▲ 1.91% GLOBANT 33.41 ▲ 6.74% TECNOGLASS 45.19 ▼ 0.24% GAP AIRPORT 217.60 ▲ 0.61% ASUR 272.15 ▲ 1.64% OMA AIRPORT 104.87 ▲ 1.39% AMX ADR 25.79 ▼ 0.85% FEMSA ADR 131.29 ▲ 3.28% CEMEX ADR 12.13 ▲ 0.58% PETROBRAS ADR 18.12 ▼ 3.48% VALE ADR 14.68 ▼ 0.78% ITAU ADR 8.30 ▲ 0.24% SANTANDER BR 5.43 ▲ 2.45% AMBEV ADR 3.04 ▼ 0.82% CSN 1.11 ▲ 2.78% GERDAU 4.79 ▼ 0.52% LATAM ADR 52.26 ▲ 4.20% BTC 64,971 ▼ 0.56% ETH 1,941 ▼ 0.64% SOL 75.99 ▼ 0.80% XRP 1.09 ▼ 1.62% BNB 573.61 ▼ 0.16% ADA 0.16 ▼ 3.93% DOGE 0.07 ▼ 1.65% AVAX 6.58 ▼ 2.29% LINK 8.63 ▼ 2.09% DOT 0.80 ▼ 3.76% LTC 46.53 ▼ 2.64% BCH 215.85 ▼ 0.44% TRX 0.33 ▼ 1.13% XLM 0.18 ▼ 2.94% HBAR 0.07 ▼ 2.01% NEAR 1.77 ▼ 3.37% ATOM 1.36 ▼ 3.10% AAVE 99.38 ▼ 2.10% SELIC 14.25% EMBRAER 86.28 ▲ 4.58% EMBRAER ADR 67.72 ▲ 4.30% JBS 13.51 ▲ 9.98% JBS BDR 68.81 ▲ 10.91% MBRF3 15.60 ▲ 5.12% MBRFY 3.02 ▲ 2.72% INTER 5.55 ▲ 4.82%
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Looking Back: Lula’s Presidency

By · October 12, 2010 · 4 min read

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By Sibel Tinar, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL –The words ‘continuity’, ‘change’, and ‘alternative’ have lost their respective meanings in politics leading up to the 2010 elections in Brazil, instead, through political maneuvering all have been merged into a single concept that in essence meant “the continuation of President Lula’s legacy, and taking it one step further”.

President Lula being interviewed by TV Brasil Internacional in Brasília, photo by Roosewelt Pinheiro/ABr.
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The campaigns leading up to the elections have primarily focused on who could lay claim to Lula’s legacy and, since in politics winning over the median voter means winning the election, there is no doubt that with an approval rating over eighty percent, the median voter wants another Lula.

So what do the candidates mean when referring to, and pledging alliance to, Lula’s legacy?

Luiz Inácio Lula da Silva, 64, was born in the Northeastern state of Pernambuco into the very conditions that exemplify the underprivileged conditions of rural Brazil. Dropping out of school after fifth grade to work, he never forgot where he came from. Having been elected president for the first time in 2002 after three defeats, he started his presidency by promising to eradicate hunger, as well as pledging to make social, political and economic reforms.

Aware of Brazil’s vast resources and potential, Lula quickly assumed the role of leader for the developing world, refusing to bow to demands from world powers such as the United States and the European Union, and calling for a more equitable world system, in which workers in the developing countries would get their fair share.

Lula’s moderate views on globalization, and his embrace of the market-economy to boost economic development turned him into a sympathetic figure at home, and a spokesperson for the developing world abroad, as evidenced by his efforts to get Brazil a permanent seat on the United Nations Security Council.

In domestic affairs, poverty reduction was always a priority, and he started the Fome Zero (Zero Hunger) welfare initiative, which included major programs such as Bolsa Família (Family Grant) in order to help the poorest families, the majority of whom are concentrated in the North and Northeast regions of the country, by offering them direct financial aid.

President Lula and First Lady Marisa Letícia at the Brazilian Independence Day celebrations in Brasília on September 7th, photo by Antonio Cruz/ABr.

His populist approach, combined with the success of his efforts is beginning to shift the dynamics of Brazil’s inequitable distribution of wealth, afforded Lula a second win in the 2006 presidential elections, despite corruption allegations that troubled the PT (Workers’ Party) and led to the resignation of several government officials.

The second term of Lula’s presidency saw a remarkable increase in Brazil’s economic growth, and even though the role of the global dynamics that increased the demand for the country’s main exports such as soybeans and ethanol cannot be denied, Lula’s confident leadership helped lower inflation from thirteen to five percent, and reduced unemployment.

Lula did, however, face severe criticism from the Western world when he openly supported the controversial election results of Iran, as well as its nuclear enrichment program by opposing the imposition of additional sanctions on the country.

Twice named one of the most influential leaders in the world by Time Magazine, in 2004 and 2010, Lula’s domestic achievements also helped turn Brazil into a major player in world affairs, which, combined with his undeniable charisma and natural leadership abilities, has made him an immensely popular president with a cult-like following that the Brazilian public is reluctant to let go. Even Barack Obama went so far as to say of him, “This is the man”.

Lula's visit to Tehran and meeting with the Iranian president Mahmoud Ahmadinejad, establishing his favorable attitude towards Iran's nuclear program was criticized heavily by Western powers, photo by Ricardo Stuckert/PR.

The electoral law, however, stipulates that a president can only serve two consecutive terms, and Lula will have to step down on December 31st, handing over his legacy to either the opposition leader José Serra, or more likely, to his protégée and designated successor Dilma Rousseff, depending on the outcome of the run-off round of the presidential elections.

Unlike some other world leaders, Lula has refused to change the constitution to allow himself a third consecutive run despite his popularity that almost certainly would guarantee his reelection, a decision that reflects his respect for his country’s laws, and is seen as an important legacy for Brazil’s political culture.

Amid speculation that he has been considering an appointment as the secretary general of the United Nations, or a similar leadership position at another international organization after his mandate as the president ends, Lula has chosen to remain ambiguous about the possibility of returning as president in another four years, saying: “I am speaking from my heart when I say that I will not run for president in 2014, but in politics you can never say no.”

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