Lula weighs Alckmin and Fonteles for Brazil’s finance ministry
By the AFREEQUE newsroom, based on Sowetan
After his re-election in Brazil, Luiz Inácio Lula da Silva is considering vice-president Geraldo Alckmin and re-elected Piauí governor Rafael Fonteles for the post of finance minister. A sharp fall in Brazilian markets is increasing pressure for a choice reassuring investors about fiscal discipline, according to Reuters.
Luiz Inácio Lula da Silva is hesitating between his vice-president Geraldo Alckmin and Rafael Fonteles, the re-elected governor of Piauí state, for Brazil’s finance ministry. Three sources close to the discussions said the president could take his time before deciding, Reuters reports.
The choice comes after a sharp fall in Brazilian markets, with investors seeking a signal of fiscal discipline. Rafael Fonteles, 41, is a technocrat specialising in public finances and was Piauí’s finance secretary from 2015 to 2022. Geraldo Alckmin, 73, is a former governor of São Paulo and former minister of Development, Industry and Foreign Trade.
Fonteles helped revive Lula’s campaign after the first round, but the president said in his victory speech that the governor still had a «mission to fulfil» in Piauí. Lula also praised Alckmin’s loyalty and handed him the microphone before speaking, a gesture interpreted by several of his close associates as a sign of trust.
