ABSTRACT
Luiz Inácio Lula da Silva is a labor union leader who served as 35th president of Brazil as it was transformed from a continually under-achieving economy to a major member of the global economic community. Lula, as he is known in Brazil, implemented social programs that pulled nearly 25 million people out of poverty and added almost 30 million people to the middle class-creating an enormous new domestic market for goods and services. He was fi rst elected president in 2002 when Brazil received a $30 billion loan from the International Monetary Fund (IMF) to rescue its failing economy. When he left offi ce in January 2011, Brazil had repaid its debt and was lending $5 billion to the IMF. Brazil’s currency is now stable and income of the poorest 10% of the population has grown fi ve times faster than income of the richest 10%. Unemployment is at a record low level, infl ation is under control, and illiteracy is declining signifi - cantly. Brazil will host the World Cup of soccer in 2014 and the Olympic Games in 2016. Known as the working man’s president, Lula began as a poor immigrant from rural Brazil with a fourth grade education. His name is now spoken with reverence by many Brazilians.
