When Luiz Inacio Lula da Silva ran for president of Brazil in 2002, market players feared the labor activist's leftist rhetoric would spell trouble for Latin America's largest economy. After all, he spoke of social justice and a possible debt default. The arrival of dark horse candidates is adding spice to the mix. Among them is Marina Silva, Lula's former environmental minister, who defected from the ruling Worker's Party (PT) over differences regarding agricultural and infrastructure development in the Amazon region. Lula has vowed not to boost spending to support the PT's presidential campaign next year, though some analysts are taking a cautious approach. The incoming administration will also have to contend with the country's recent pre-salt oil finds, which will position Brazil as a major world oil producer. The new fields hold an estimated billion barrels of oil, and Lula has said revenues should be earmarked for education, technology and poverty reduction.
Everything To Play For Antonio Guerrero Global Finance; Nov 2009; 23, 10; Docstoc pg. 24 Reproduced with permission of the cop
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