Since taking office in 2003, Brazil’s president Luiz Inacio Lula da Silva has been the man to watch in Latin America, bringing the region’s largest economy unprecedented stability and silencing fears that the former steel worker would be unable to handle the country’s huge foreign debt. This year, though, Lula faces one of the biggest challenges to his pro-market credentials: the task of pushing an initiative through congress to give the central bank autonomy.
The issue has been controversial for years in Brazil.
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