Economist André Lara Resende denies meeting with President Lula

Economist André Lara Resende has denied reports of a scheduled meeting with Brazilian President Luiz Inácio Lula da Silva to discuss his proposal for fiscal and monetary policy reorganization. Resende stated that rumors of such an encounter were planted to discredit his initiative and harm those who support it.

His proposal, originally shared via a Substack newsletter in September, suggests the creation of a National Fiscal and Monetary Council (CFMN). This council would work alongside the Central Bank to coordinate long-term goals for public accounts and interest rates. The plan aims to reduce the Selic rate to a level compatible with international standards, arguing that Brazil's high real interest rates are a primary driver of fiscal imbalance.

Resende clarified that he does not seek a position within the government and that his stance is known to the President. He also refuted claims that his suggestion to lower interest rates implies a government-mandated cap on rates, asserting instead that the goal is to align Brazilian rates with global trends.