Guido Mantega: "With the support of a banker, Tarcísio will not be elected"

247 - In interview with the program good night 247Former Finance Minister Guido Mantega stated that the candidacy of São Paulo Governor Tarcísio de Freitas for President of the Republic has been structured with direct support from sectors of the financial system, especially banker André Esteves of BTG Pactual. According to Mantega, this type of alliance represents a political risk and will not find popular support.

"With the support of a banker, Tarcísio will not be elected," said Mantega, highlighting that the history of partnerships between the governor of São Paulo and the bank goes back a long way.

The influence of André Esteves

Mantega emphasized that André Esteves was one of the main beneficiaries during Jair Bolsonaro's government, especially in privatizations. According to the former minister, BTG profited extensively from such operations and continues to orchestrate moves that, in his assessment, have the central objective of guaranteeing gains for the financial market, even at the expense of the national economy.

"André Esteves was perhaps the banker who profited the most during the Bolsonaro administration, because he was in charge of privatizations. He made a lot of money with Eletrobras and Sabesp," he stated.

The former minister also recalled that Esteves and Roberto Campos Neto, then president of the Central Bank, were key figures in episodes of exchange rate instability that affected the Brazilian economy in 2024, creating an environment conducive to market speculation.

Tarcísio's role in privatizations

According to Mantega, Tarcísio consolidated his political career through privatization and concession measures that, according to him, favored close economic groups.

"When he was Minister of Infrastructure in the Bolsonaro government, Tarcísio renewed early concessions at bargain-basement prices, benefiting companies like Cosan and Vale. Now, as governor, his main achievement has been privatizing Sabesp, with rising tariffs and a decline in service quality," he stated.

Mantega added that, if elected president, Tarcísio should continue with the same management model, including the sale of Petrobras.

The political weight of bankers' support.

The former minister highlighted that the association of candidates with the financial system has historically lacked support from the Brazilian population.

"Bankers have never elected anyone in Brazil. The population knows who the bankers are and doesn't like them. When Dilma's government confronted the banks to reduce interest rates, her popularity grew. If Tarcísio presents himself as the bankers' candidate, he won't win," he stated.

According to Mantega, although financial support from the banking sector may strengthen Tarcísio's campaign in terms of structure, popular rejection of this type of alliance tends to prevail in the electoral process.

Consolidated alliance

The former minister also mentioned the personal connections between Tarcísio and BTG Pactual, recalling that the governor's son had previously worked at the bank, in addition to political and business relationships established in recent years.

"This has been arranged for a long time. They are business partners. BTG is an aggressive bank that profits by breaking up companies and acquiring others. Now it's positioning itself as Tarcísio's campaign manager," he assessed.

According to Mantega, this alignment reveals an attempt by financial sectors to regain political prominence, but it represents a project of economic and social regression.