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Macron, Xi and the Bankers: Inside Lula’s Agenda

Key Points
A transparency NGO analyzed all 4,488 official presidential appointments across three years and found that one minister — Casa Civil chief Rui Costa — met Lula 343 times, nearly twice as often as anyone else.
France’s Macron was the foreign leader Lula saw most (23 meetings), while China’s Xi Jinping (13) outpaced Joe Biden (8) — a revealing map of where Brazil sees its diplomatic future.
Heads of state-owned banks topped the corporate meeting list, while China’s electric car giant BYD and Spain’s Telefónica led among private firms — offering a snapshot of which industries have the president’s ear as he seeks reelection in October.

Politicians say a lot. Their calendars say more. A Brazilian transparency organization called Fiquem Sabendo has spent months dissecting every official appointment President Lula held across his first three years in office, and the results read like an X-ray of how Latin America’s largest democracy actually works. This is part of The Rio Times’ daily coverage of Brazil politics and Latin American financial news.

Between January 2023 and December 2025, the 80-year-old president averaged four appointments per day — 4,488 total, though only 54% listed participants by name. The man who showed up most was Casa Civil chief Rui Costa, Brazil’s de facto prime minister, with 343 meetings — roughly two per week for three years. Finance Minister Fernando Haddad came third with 203.

The foreign leader data is where it gets geopolitically interesting. France’s Emmanuel Macron topped the list with 23 meetings — 18 in person — reflecting a personal bond between a former metalworker and a former investment banker that survived deep disagreements over the EU-Mercosur trade deal. Spain’s Pedro Sánchez came second with 15, combining ideological affinity with frequent phone calls.

Macron, Xi and the Bankers: Inside Lula’s Agenda. (Photo Internet reproduction)

More telling is the gap between China and the United States. Xi Jinping had 13 meetings with Lula, including a state visit to Brasília; Joe Biden had eight. Colombia’s Gustavo Petro matched Xi’s total. Putin reached ten — but seven were remote, since the Russian president rarely travels abroad following his International Criminal Court arrest warrant.

Who Really Gets Access to Lula

On the business side, heads of Brazil’s three major public banks — Banco do Brasil, development bank BNDES, and Caixa Econômica — each met Lula more than 20 times, leading all corporate contacts. Among private firms, China’s electric vehicle giant BYD, Spain’s Telefónica, and Volkswagen’s Brazilian arm stood out alongside domestic banks like BTG Pactual, Bradesco, and Itaú.

This all comes as Lula prepares for a reelection fight in October, where recent polls give him a five-point lead over Senator Flávio Bolsonaro, son of imprisoned former president Jair Bolsonaro. Critics on the right argue the data shows a president too focused on ideological allies and state enterprises. Supporters counter it reveals a disciplined leader managing an unwieldy 40-minister coalition while navigating a hostile congress.

Either way, the calendar doesn’t lie. And for anyone trying to understand where Brazil is heading — diplomatically, economically, politically — who gets into the room matters at least as much as what gets said at the podium.

Related coverage: Brazil’s Morning Call | How Brazil’s Fiscal Chaos Is Breeding the Next Populist Wave

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