born June 18, 1931, Rio de Janeiro, Braz.
President of Brazil (19942003).
Born into a wealthy military family, he taught sociology at the University of São Paulo and was a prominent member of the left-wing intellectual opposition when Brazil was under military rule, though he turned more centrist after civilian rule was restored. In 1993 he became finance minister and supervised the creation of the Real Plan, an effective anti-inflation package that helped him gain the presidency in 1994. He has worked for privatization of state-owned companies and increased foreign investment. In 1998 he became the first president in Brazilian history to be reelected. A foreign-exchange crisis in 1999 damaged Brazil's growth prospects. In 2002 Brazilians elected Luiz Silva to the presidency.