Brazilian History                  1 2 3

Information

A little aboutof Brazilian history 
 
 

 

In the mid-80s, Brazil's economic miracle, supported largely by loans from international banks, petered out and the military handed power back to a civilian government. In November 1989, Brazilians had their first opportunity to elect a president by popular vote in almost 30 years, and elected Fernando Collor de Mello, ex-karate champion, over the socialist Luiz da Silva, by a narrow but secure majority. Collor gained office promising to fight corruption and reduce inflation, but by the end of 1992, the man who had once reminded George Bush of Indiana Jones had been removed from office and was being indicted on charges of corruption. He was accused of leading a gang which used extortion and bribery to suck more than US$1 billion from the economy.

Vice-president Itamar Franco became president in December, 1992 on Collor's resignation, and in November, 1994, Fernando Cardoso was elected president. Cardoso has reduced the inflation rate significantly since taking office, but this has been offset by the loss of two million jobs between 1989 and 1996 and ongoing problems with agrarian reform, which is now being treated as a national security issue. According to a 1996 United Nations report, Brazil has the world's most unequal distribution of wealth. Still, that didn't stop Cardoso from comfortably winning a second term in 1998.

In 2002 Luis Inácio Lula da Silva was elected president and relected and winning a second term in 2006.

 

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