OPINION: Fernando Haddad, Brazil's finance minister won't handle the pressure
Fernando Haddad is on the corner and President Lula is not helping him.
Lula is old.
Some Brazilians are comparing our actual president with Joe Biden. It’s really very similar to Biden’s behavior indeed: lost and living in a different era.
Fernando Haddad, Brazilian minister of economy, is pressured by inflation, interest rates and…trust.
Entrepreneurs and investors (of all sizes and sectors) aren’t trusting in the government, and Fernando Haddad is in the center of this trusting crisis.
With interest rates and inflation raising as well, it will be a huge challenge to change the way.
Errand boy
Months ago, Rubens Ometto owner of Cosan (CSAN:NYSE), one of the historical supporters of Lula, made an important speech about the moment. He’s not trusting anymore. When investors of a size of Ometto go public and criticize the government, we know the final story.
It’s only an opinion, but he (Fernando Haddad) will not be able to withstand the pressure of the current moment and the next months.
Fernando Haddad is acting only as an “errand boy” for Lula.