In a meeting with ministers, Lula talks about pacification with the market and promises to act on 8/1

The “ministerial meeting” led this Friday (20) by the president Luiz Inácio Lula da Silva (PT) It had a much more informal tone than previous meetings of this type – it was more like an end-of-year get-together lunch than an actual meeting.

The meeting, held at Palácio da Alvorada, in Brasília (DF), was attended by 38 government ministers and took place in a relaxed tone. According to information from the g1Lula told the ministers that the future president of the Central Bank (BC), Gabriel Galípolo – with whom the president also met today – told him that it was necessary to “pacify the relationship” with the financial market.

This afternoon, on his social networks, Lula released a video in which he appears alongside Galípolo and ministers Fernando Haddad (Finance), Simone Tebet (Planning and Budget) and Rui Costa (Civil House), and pledges to respect “ autonomy” of the monetary authority.

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In a video recorded alongside Gabriel Galípolo, future president of the BC, and the Minister of Finance, Fernando Haddad, Lula states that he will “never” interfere in the decisions of the monetary authority

Galípolo, current director of Monetary Policy at the BC, was appointed by Lula to succeed the current president of the authority, Roberto Campos Neto, with whom the PT member had a series of public disagreements in his first two years in office. Campos Neto will be in charge of the BC until December 31st. Galípolo takes over on January 1st.

“We remain more convinced than ever that economic stability and the fight against inflation are the most important things to protect the salaries and purchasing power of Brazilian families,” says Lula in the recording.

The meeting with the ministers of his government was highly anticipated by Lula and was held after the president was released by the doctors who accompanied him during his recovery after surgery to remove a blood clot in his brain. He stayed in São Paulo until Thursday (19).

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The meeting took place at Palácio da Alvorada, in Brasília, one day after Lula returned to the federal capital, after undergoing health procedures in São Paulo

In recent days, tension has grown in the market due to pessimism regarding the federal government’s commitment to fiscal responsibility and the adjustment of public accounts. The approval of the fiscal package by the National Congress, concluded this Friday (20), and the video alongside Galípolo contributed to the dollar’s decline since yesterday, according to the president’s allies. This Friday, the American currency fell to R$6.07.

New meeting and action on January 8

According to the Minister of Development and Social Assistance, Family and Fight Against Hunger, Wellington Dias (PT)Lula should promote a new ministerial meeting – more formal, in traditional ways – in January 2025.

At this next meeting, an assessment will be made of the government’s main actions in the first two years of Lula’s third term, in addition to the presentation of the programs planned for next year.

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Dias also stated that Lula intends to carry out a new act in defense of democracy on January 8th, exactly two years after the violent attacks of January 8th, 2023.

On the occasion, supporters of the former president Jair Bolsonaro (PL) Unsatisfied with the result of the 2022 elections, they invaded and vandalized the headquarters of the Planalto Palace, the National Congress and the Federal Supreme Court (STF). At the time of the attack, Lula was at an official appointment in Araraquara, in the interior of São Paulo.

On January 8, 2024, Lula brought together the heads of the Three Powers in an act to remember the attacks of the previous year.