Brazil's Lula weighs Alckmin or Fonteles for finance minister
Brazilian markets are falling sharply after President Luiz Inacio Lula da Silva's surprise reelection, pressuring him to name a finance minister who signals fiscal discipline. Two leading candidates have emerged: Vice President Geraldo Alckmin and Piauí Governor Rafael Fonteles. Fonteles, 41, is a fiscally disciplined technocrat and mathematician who served as Piauí's finance secretary. Alckmin, 73, is a former center-right rival and ex-governor of São Paulo whom Lula trusts completely, though he may retain current Finance Minister Dario Durigan. Lula's choice is tied to whether former Finance Minister Fernando Haddad becomes chief of staff. Sources say a PT figure alone may struggle to calm markets, boosting chances for Durigan or Alckmin if Haddad takes that role.