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Reuters
Reuters
Business
By Marcela Ayres and Lisandra Paraguassu

Lula builds out econ team with Mercadante at BNDES, ex-banker aide to Haddad

BNDES Luiz Inacio Lula da Silva Aloizio Mercadante PT Workers Party Fernando Haddad Gabriel Galipolo Economy Ministry Brazil Dilma Rousseff
Brazil's President-elect Luiz Inacio Lula da Silva speaks near Brazilian politician and nominee for President of the Brazilian National Development Bank (BNDES) Aloizio Mercadante during the closing session of the thematic group of the transition government in Brasilia, Brazil December 13, 2022. REUTERS/Ueslei Marcelino

More of Brazilian President-elect Luiz Inacio Lula da Silva's economic policy team took shape on Tuesday, with Workers Party (PT) veteran Aloizio Mercadante running development bank BNDES and a former banker taking a key role at the Economy Ministry.

Brazilian financial markets reacted as Lula named Mercadante as investors gauged the possible return of the PT's intervention in long-term credit markets.

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