Fernando Affonso Collor de Mello, pron. Template:IPA2, (born August 12, 1949) was president of Brazil from 1990 to 1992 . He was elected a Senator of the republic in the 2006 general elections and began his term in February 2007. The son of Arnon Afonso de Farias Melo and Leda Collor de Mello, Collor was born in a political family, led by his father, a journalist and former governor of Alagoas.
Fernando Affonso Collor de Mello | |
|---|---|
| File:Fernando collor.jpg | |
| 36th President of Brazil | |
| In office March 15, 1990 – October 2, 1992 | |
| Vice President | Itamar Franco |
| Preceded by | José Sarney |
| Succeeded by | Itamar Franco |
| Personal details | |
| Born | August 12, 1949 Rio de Janeiro, Rio de Janeiro |
| Nationality | Brazilian |
| Political party | National Renewal Alliance Party (1979-82), Democratic Social Party (1982-86), Brazilian Democratic Movement Party (1986-89), National Reconstruction Party (1989-93), Brazilian Labour Renewal Party (2000-2007), Brazilian Labour Party (current) |
| Spouse | Rosane Collor de Mello |
Early career
He became the president of Brazilian football club CSA in 1976. Backed by his good looks and popularity, he entered politics, successively mayor of Alagoas' capital Maceió in 1979 (ARENA), a federal deputy (PDS) in 1982, and eventually governor of the state of Alagoas (PMDB) in 1986.
During his term as governor he attracted a lot of publicity by allegedly fighting the payment of super-salaries to public servants, whom he termed maharajas (likening them to the former princes of India who received a stipend from the government as compensation for relinquishing their lands). The efficacy of his policies in reducing public expense is disputed, but it certainly made him popular over the country[citation needed]. This helped boost his political career, with the help of television appearances in nationwide broadcasts (quite unusual for a governor from such a small state).
Presidency
In 1989 Collor defeated Luiz Inácio Lula da Silva in a two round presidential race and 35 million votes. He won in the state of Sao Paulo against many prominent political figures. The first democratically elected President of Brazil in 29 years, Collor spent the early years of his government allegedly battling inflation, which at times reached rates of 25% per month.
Shortly after taking office, Collor launched the "Collor Plan", which attempted to reduce the money supply by forcibly converting large portions of consumer bank accounts into unspendable government bonds, while at the same time increasing the printing of money bills, a contradictory measure to combat hiperinflation[This quote needs a citation]. In the month before Collor took power, the hiperinflation was 84% in each month and was growing. All accounts over 50,000 Cruzeiros (about 1,300 dollars at that time), were frozen for 18 months. He also proposed freezes in wages and prices, as well as major cuts in government spending. The measures were received unenthusiastically by the people, though many felt that radical measures were necessary to kill the hiperinflation which was above 50% monthly. Within a few months, however, inflation resumed, eventually reaching rates of 25% per month. Even so, Brazil never had hiperinflation again, after Collor took office.
The "confiscated" money had negative real interest rates while in the government's hands and this negative difference was indirectly used to significantly lower the Brazilian sovereign debt [This quote needs a citation]. Before Collor took power, in march of 1990, brazilian rates were above 200% each month.
Privatization and Free trade
A feature of Collor's administration was the privatization of a number of government-owned enterprises such as Acesita, Embraer, Telebras, Companhia Vale do Rio Doce. His government also had a tremendous commercial impact, once both taxes and red tape on imports were all lifted, allegedly to make the national indus.
Fernando Collor resigned his term in office just before brazilain senate voted for his impeachment. Newspapers cried it was a victory for democracy. Brazil´s very first democraticly elected president fled out of office just before he was impeached by congress because of excessive corruption in his government in 1992. It was the first time the congress dismissed the president in Brazil without any interference by the military. For Brazilians, most from the left-wing, Fernando Collor was and still is a shame for Brazilians who trusted him to creat a never seen before democratic republic. For many others brazilians, he was even a victim and a hero. Brazilian modernization, privatization and free trade were all beginned by Fernando Collor in 1990 decade. Even in brazilian culture, to buy imported goods became a normal thing in brazilian way of life during Collor's presidency. His political economy of privatization and free trade was then followed by the next two governments until our days: Fernando Henrique Cardoso and Lula da Silva.
In 2006, was easily elected for the brazilian senate, representing his state, Alagoas and is again, among the most respected brazilian politicians. Recently he made public brazilians congressists who are against Venezuela's t communist dictator Hugo Chávez.