(Jan. 1, 2023 10:31 AM PST) Luiz Inacio Lula da Silva has been sworn in as President of Brazil for an unprecedented third term, following his release from prison in 2019. Lula plans to prioritize ending poverty, ending hunger, and attacking racism, while also rewarding loyal supporters with key cabinet positions. Some investors are concerned that increased social spending and a loyalist cabinet could damage Brazil’s fiscal credibility and lead to increased corruption.
