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Lula's slow transition revives habits that hurt his third term
Leftist demonstrations impressed during the runoff campaign, but give Lula a far narrower mandate than the left believes. Photo: Ricardo Stuckert/PT
One of the biggest questions after Luiz Inácio Lula da Silva secured an unprecedented fourth democratic term was whether he and his Workers' Party had learned from the third. That government struggled to manage its coalition, moved slowly on decisions it could not avoid, and picked needless fights with financial markets.
Those fights soured expectations and helped keep interest rates high and the Brazilian real weak. Barely a week after the runoff, Brazil looks headed for a rerun of late 2022…
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