How Did Mano Locko Coming To Power

With Fernando Cardoso coming to power in the early 1990’s, it signalled a shift towards political consolidation and economic stabilization. He proved to be a pragmatic and decisive leader, reasserting the government's authority to influence policy despite political and popular opposition. Inflation had long dogged the Brazilian economy with many leaders, military and civilian, avoiding the issue and further fanning the flames through monetary expansionist policies. Cardoso, first acting as finance minister during the brief presidency of Itamar Franco in 1992, looked to replicate the success of Chile and Argentina by gaining mastery over the economy and bringing long sought after stability. PMDB reforms guaranteed future success of the centrist
The Partido do Movimento Democrático Brasileiro (PMDB) came to power on a familiar platform of anti-corruption sentiment, blaming the nations problems on a bloated and inefficient public bureaucracy. Fernando Collor de Mello dismissed public servants appointed by earlier president Jose Sarney, although this action proved politically hollow, resulting in little change to Brazil's rapid deterioration. Change did however come from Collor de Mello’s successor, Itamar Franco, who embarked under an ambitious stabilization program under finance minister Fernando Henrique Cardoso. Unpopular at the time, the initiative froze savings withdrawals, required a mandatory balanced budget at all levels of government, and created a new currency; for which the initiative got its name sake, Plano Real. Designed to stop the run on Brazilian currency, the program proved massively successful in stopping the hyperinflation, dropping rates from 2490% in 1993 to just 19% in 1995. Plano Real resulted in not only the stabilization of the economic situation but also the political environment, winning Cardoso the presidency in 1994, a feat that looked all but impossible following the impeachment of Collor de Mello in
A run on markets in Asia had threatened the default of several similarly structured economies, resulting in a contraction of international capital markets in which Brazil had come to rely upon. Interests rates soared, and Cardoso was forced to sit back and ride the turbulence out. Focus from welfare expansion that had graced the mid nineties now moved to constitutional and social reforms, passing a law allowing for a second presidential term as well as a national affirmative action program in 1995. The government would (and they’d argue could) do little to combat depressed wages, instead demonstrating fiscal restraint, a move that would birth a persistent ‘movement of the landless’ who argued against the neoliberal model. Further social reforms include Cardoso’s creation of CEMDP, a council that looked to promote justice and redress for relatives of the victims of political violence during the military dictatorships. These reforms were criticized for the vast limitations placed on the process of justice, including issues regarding burden of proof and exemptions for those killed during