Incumbent Wins Brazil’s Presidency, Returns Show
Facing an uncertain economic future, Brazilians stuck with the incumbent Sunday and reelected Fernando Henrique Cardoso as president, early official results showed.
With 35% of the vote counted, Cardoso had 50.9%, compared with 34.3% for former labor leader Luiz Inacio “Lula” da Silva of the Workers’ Party.
Cardoso has pledged strong measures to control a ballooning budget deficit of more than $60 billion.
Brazilian Finance Minister Pedro Malan is heading negotiations in Washington with the International Monetary Fund and other lenders for an emergency loan package reportedly worth $30 billion.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
