Incumbent Wins Brazil’s Presidency, Returns Show
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RIO DE JANEIRO — Facing an uncertain economic future, Brazilians stuck with the incumbent Sunday and reelected Fernando Henrique Cardoso as president, early official results showed.
With 35% of the vote counted, Cardoso had 50.9%, compared with 34.3% for former labor leader Luiz Inacio “Lula” da Silva of the Workers’ Party.
Cardoso has pledged strong measures to control a ballooning budget deficit of more than $60 billion.
Brazilian Finance Minister Pedro Malan is heading negotiations in Washington with the International Monetary Fund and other lenders for an emergency loan package reportedly worth $30 billion.
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