Jose Sarney

José Sarney assumed the presidency on April 21, 1985, after the death of President-elect Tancredo Neves. He became the first civilian president since the 1964 military coup, serving until March 15, 1990.

Sarney was elected vice president in 1985 on the ticket of Tancredo Neves. When Neves fell ill and died before taking office, Sarney succeeded him, becoming president under the transitional democratic government.

Sarney launched the Cruzado Plan in February 1986, a heterodox economic program to combat hyperinflation. It included a currency reform, price freezes, and wage adjustments. The plan initially succeeded but later collapsed, leading to renewed inflation.

In 1987, Brazil faced a severe economic crisis with hyperinflation reaching over 200% per month. Sarney's government declared a moratorium on foreign debt payments in February 1987, straining relations with international creditors.

Sarney oversaw the promulgation of Brazil's new constitution on October 5, 1988, which replaced the 1967 military-era constitution. The 1988 constitution expanded social rights, decentralized power, and established democratic institutions.