Economy Lula's first two terms coincided with a strong boom in commodities prices. This fueled an economic boom in Brazil, which in turn allowed Lula to spend heavily on social programmes and pay off a $15 billion IMF loan a year early.
Economy Lula's first two terms coincided with a strong boom in commodities prices This fueled an economic boom in Brazil which in turn allowed Lula to spend heavily on social programmes and pay off a $15 billion IMF loan a year early