Lula’s Victory Echoes Across BRICS After Fears of a Bolsonaro Win

Source: Al Jazeera | Original Published At: 2026-10-27 16:05:22 UTC

Key Points

• Brazilian President Luiz Inacio Lula da Silva won a fourth term, which analysts said reassured BRICS after concerns that a Bolsonaro victory could weaken Brazil's commitment to the bloc.
• Lula, one of BRICS' founders, has promoted a more multipolar international system and a larger role for emerging economies in global governance.
• Analysts said a Bolsonaro government could have slowed BRICS consensus and cooperation on trade and financial reform by aligning more closely with Washington.
• Experts noted that BRICS members have different economic interests and geopolitical goals, so Lula's win does not remove internal differences within the bloc.
• Lula's victory may strengthen BRICS efforts to expand trade in local currencies and reduce dollar dependence, including through New Development Bank lending and Brazil-China currency settlement.
• Experts said reducing dollar reliance will be gradual and requires payment infrastructure, currency liquidity, financial regulation, and business uptake.