Former president of Brazil Itamar Franco dies at age 81
Franco was known as the leader who in the 1990s tamed inflation in Latin America’s biggest country. He became president in 1992 after Fernando Collor de Mello stepped down to avoid being impeached as a result of corruption charges. Franco was elected vice president in 1989.
As president, he launched the Real Plan, which is considered Brazil’s most successful anti-inflationary program. It was created by his finance minister, Fernando Henrique Cardoso, who was elected president in 1994.
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By AP, The Albert Einstein hospital in Sao Paulo says in a statement that the 81-year-old Franco died Saturday morning. He had been hospitalized since May after being diagnosed with leukemia and pneumonia. Franco was known as the leader who in the
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