In Brazil, Defaced Bills Draw Central Bank Into Election Fray
- Ex-president’s face stamped on bank notes by his supporters
- Central bank issues statement saying they remain legal tender
Luiz Inacio Lula da Silva, Brazil's former president, is seen in Sao Paulo, on Feb. 22.
Photographer: Patricia Monteiro/BloombergThis article is for subscribers only.
Defaced bank notes featuring the image of jailed former President Luiz Inacio Lula da Silva have dragged Brazil’s central bank into the country’s polarized pre-election debate.
Critics of the ex-president circulated a video on social media showing Lula’s supporters stamping bills with his face alongside a plea to set him free ahead of October’s presidential elections. An accompanying message claimed stamping the bank notes is illegal and that Brazil’s monetary authority had already instructed banks to reject them. Local businesses began boycotting the bills, forcing the central bank to state that the notes remain legal tender.