On the anniversary of the PT, Dilma criticizes interest rates and demands the renationalization of Eletrobrás

Echoing President Luiz Inácio Lula da Silva’s (PT) criticism of the Central Bank, former President Dilma Rousseff (2011-2016) said this Sunday (12) that the current interest rate “dooms” Brazil “to depression”.

Dilma made the comments during an event in Brasilia celebrating the 43rd anniversary of the PT’s founding.

“When President Lula questions interest rates, he is defending the future of his government. The interest rate at 13.75% [ao ano] is condemning [o país] to a depression, a moment of loss, income and employment. So, therefore, we have to understand and defend the government”, said the petista.

At the same event, the former president defended that Eletrobrás be renationalized. “President Lula needs, for example, and he is fighting for this, he needs to be able to make Eletrobrás go back to being the company of Brazilians. President Lula needs to resume investments that have been paralyzed. He needs to have My House, My Life. It needs to have investments from Petrobras. BNDES needs to be remodeled [Banco
Nacional de Desenvolvimento Econômico e Social] in the sense of being an investment bank”, pointed out Dilma.

Last week, Lula had said that the president of the Central Bank, Roberto Campos Neto, owed explanations to the National Congress after maintaining the basic interest rate (Selic) at 13.75% per year.

“I do not argue with the president of the Central Bank. I made two criticisms to the press. He owes explanations not to me. He owes explanations to the National Congress, to whom he was appointed. It is true that we have two people on the National Monetary Council and there are more people for us to appoint at the Central Bank, ”he said.

“He [Campos Neto] have more responsibility than [Henrique] Meirelles had in my time. Because at that time when Meirelles was from the Central Bank, it was easy to blame the President of the Republic. Not now. Now it’s the Central Bank’s fault,” said Lula. “Because the president cannot change the Central Bank. It is the Senate that can move or not,” she added.