Lula pledges not to privatize Bank of Brazil

By Xinhua News Agency

Nov 12, 2022 12:05 am

RIO DE JANEIRO: Brazil's President-elect Luiz Inacio Lula da Silva on Thursday (Friday in Manila) assured supporters he will not privatize state-owned Banco do Brasil, the largest financial entity in Latin America, nor will he sell off parts of state oil giant Petrobras.

At an event in Brasilia with lawmakers from allied parties, Lula reiterated his campaign commitment not to privatize the country's top state-owned companies.

KEEPING A PROMISE Brazilian President-elect Luiz Inacio Lula da Silva leaves the Centro Cultural do Banco do Brasil after a meeting with politicians from the transition teams in Brasilia on Thursday, Nov. 10, 2022 (November 11 in Manila). AFP PHOTO

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