Lula Edges Out Bolsonaro to Win Presidency of Divided Brazil

  • Bolsonaro has yet to concede or comment on the results
  • Narrow margin of victory shows Brazil is a polarized country
WATCH: Lula said Brazil will enter a new era of peace, love and hope as he spoke after beating Bolsonaro. (Portuguese with English subtitles)Source: Bloomberg
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Luiz Inacio Lula da Silva won Brazil’s presidential election in a dramatic comeback for the left-wing politician who was languishing in a jail cell for corruption just three years ago.

He defeated the incumbent Jair Bolsonaro with 50.9% to 49.1% of the votes in Sunday’s runoff, according to the official tally. The outcome signals a change in direction for Latin America’s largest economyBloomberg Terminal after a heated campaign that showed extreme polarization among the electorate, and marks the first time a sitting president in Brazil has lost a re-election bid.