In 1992, the vice-president, Itamar Franco, took office as president and managed to evade the most feared consequences of Collor's downfall. He had to face a country with hyper-inflation, high levels of misery and unemployment. Far-left organizations were trying to turn the anti-Collor campaign into a wider revolutionary fight to overthrow the regime. Itamar finally granted full powers to his Minister of Economy, Fernando Henrique Cardoso, so the minister could launch the Plano Real, a new economic plan that seemed to be just the same as the many unsuccessful plans launched by Sarney, Collor and their military predecessor. But the Real was a success because of Rubens Ricupero and essentially because of Ciro Gomes, according to Itamar Franco himself, and terminated inflation in a few months.
In 1992, the vice-president, Itamar Franco, took office as president and managed to evade the most feared consequences of Collor's downfall. He had to face a country with hyper-inflation, high levels of misery and unemployment. Far-left organizations were trying to turn the anti-Collor campaign into a wider revolutionary fight to overthrow the regime. Itamar finally granted full powers to his Minister of Economy, Fernando Henrique Cardoso, so the minister could launch the Plano Real, a new economic plan that seemed to be just the same as the many unsuccessful plans launched by Sarney, Collor and their military predecessor. But the Real was a success because of Rubens Ricupero and essentially because of Ciro Gomes, according to Itamar Franco himself, and terminated inflation in a few months.