Brazilian President Luiz Inacio Lula da Silva signaled an openness to spending cuts, stating there is always room to cut spending, which led to a rebound in the Brazilian real and a trimming of swap rates' upward movement. Despite Lula's indication of potential cuts, Brazilian markets suffered additional losses on Friday due to fresh data on the country's budget deficit. Concerns about Lula's commitment to improving fiscal accounts have been heightened by these developments.
Brazilian markets suffered additional losses Friday as fresh data on the country’s budget deficit fueled concerns about President Luiz Inacio Lula da Silva’s commitment to shoring up its fiscal accounts. https://t.co/xD66VLvjGJ
Brazilian markets suffered additional losses Friday as fresh data on the country’s budget deficit fueled concerns about President Luiz Inacio Lula da Silva’s commitment to shoring up its fiscal accounts. https://t.co/skEYoDcd6J
Lula is a danger to his country and doesn't understand how currency works...but we are going to see more cuts globally this year... Brazilian President Luiz Inacio Lula da Silva on Friday renewed his criticism of the country's central bank, dubbing current borrowing costs… https://t.co/xLKHuomfP0
Brazil's Lula says there is always room to cut spending https://t.co/4U9XIYz7gf https://t.co/T5YRkvhqTF
Brazil Luiz Inacio Lula da Silva signaled an openness to spending cuts, causing swap rates to trim an upward move and the real to rebound from earlier losses https://t.co/FkqhOBKnWu via @markets
Lula Signals Openness to Spending Cuts, Boosting Brazilian Real https://t.co/rTUmtODXmC