October 3, 1992 |
Itamar Franco became Brazil's acting president Friday and immediately created controversy by naming a little-known politician from a poor state to the key post of finance minister. In a low-key ceremony that lasted four minutes, Franco, formerly vice president, took over from President Fernando Collor de Mello, who was stripped of power by a vote of Congress on Tuesday. Franco's first appointment was Rep. Gustavo Krause as finance minister.
May 21, 1993 |
Brazil's beleaguered President Itamar Franco, battling steep inflation, a stalled economy, and a bickering Cabinet, was rocked again Thursday when his influential finance minister and closest adviser suddenly left office. Eliseu Resende, embittered and drawn, announced his resignation before dawn, hours after a nightlong meeting with Franco at the president's residence in Brasilia, the capital. Resende had been in office 81 days and had unveiled an economic recovery plan only three weeks ago.
September 30, 1992 |
Soon after Fernando Collor de Mello was elected president in December, 1989, he scheduled a meeting with Itamar Franco, his vice president-elect. Collor kept Franco waiting three hours, then bluntly told him that his opinion wasn't needed for selecting a Cabinet. Now, the tables are turned. It is Collor, 43, who is suffering humiliation and the 61-year-old Franco who is riding high.
March 16, 1993 |
When President Itamar Franco came to power in October after the impeachment of Fernando Collor de Mello, Brazilians hoped that the government would start coming to grips with Brazil's pressing economic problems. Those hopes are fading as Franco fails to organize a convincing offensive against a painful recession and inflation of more than 1,000% a year. Two Franco finance ministers have struck out so far, and expectations are gloomy for a third one now at bat.
March 31, 1994 |
Brazil's general election campaign got off to an official start when Finance Minister Fernando Henrique Cardoso announced his candidacy to succeed President Itamar Franco in the Oct. 3 elections. Cardoso, widely expected to run, said he will campaign on an anti-inflation platform based on his economic stabilization program.
February 2, 1993
Brazilians are focusing increased attention on a constitutionally mandated plebiscite, scheduled for April 21, that could do away with their presidential system of government. Their choice: Retain the current system, switch to a parliamentary system or resurrect a monarchy overthrown in 1889. If the plebiscite changes the form of government, Congress will have until Jan. 1, 1995, to work out details.