Tancredo Neves was elected president in an indirect election in 1985 as the nation returned to civilian rule. He died before being sworn in, and the elected vice president, José Sarney, was sworn in as president in his place. Fernando Collor de Mello was the first elected president by popular vote after the military regime in December 1989 defeating Luiz Inácio Lula da Silva in a two round presidential race and 35 million votes. This victory owed partly to Rede Globo's coverage of the pair's presidential debate. The network gave Collor more airtime than Lula and juxtaposed his most eloquent statements with his socialist rival's least impressive moments. Years later Globo would actually apologise for their editing of this debate. Collor won in the state of Săo Paulo against many prominent political figures. The first democratically elected President of Brazil in 29 years, Collor spent much of the early years of his government battling hyper-inflation, which at times reached rates of 25% per month. Collor's neoliberal program was also followed by his successor Fernando Henrique Cardoso who maintained free trade and privatization programs. Collor's administration began the process of privatization of a number of government-owned enterprises such as Acesita, Embraer, Telebrás and Companhia Vale do Rio Doce. With the exception of Acesita, the privatizations were all completed during the term of Fernando Henrique Cardoso. Following Collor's impeachment, acting president, Itamar Franco, was sworn in as president. In elections held on October 3, 1994, Fernando Henrique Cardoso, his finance minister, defeated left-wing Lula da Silva again. He was elected president due to the success of the so called Plano Real. Reelected in 1998, he guided Brazil through a wave of financial crises. In 2000, Cardoso ordered the declassifying of some military files concerning Operation Condor, a network of South American military dictatorships that kidnapped and assassinated political opponents. Brazil's most severe problem today is arguably its highly unequal distribution of wealth and income, one of the most extreme in the world. By the 1990s, more than one out of four Brazilians continued to survive on less than one dollar a day. These socio-economic contradictions helped elect Luiz Inácio Lula da Silva of the Partido dos Trabalhadores (PT) in 2002. In the few months before the election, investors were scared by Lula's campaign platform for social change, and his past identification with labor unions and leftist ideology. As his victory became more certain, the Real devalued and Brazil's investment risk rating plummeted (the causes of these events are disputed, since Cardoso left a very small foreign reserve). After taking office, however, Lula maintained Cardoso's economic policies, warning that social reforms would take years and that Brazil had no alternative but to extend fiscal austerity policies. The Real and the nation's risk rating soon recovered. Lula, however, has given a substantial increase to the minimum wage (raising from R$200 to R$350 in four years). Lula also spear-headed legislation to drastically cut retirement benefits for public servants. His primary significant social initiative, on the other hand, was the Fome Zero (Zero Hunger) program, designed to give each Brazilian three meals a day. In 2005 Lula's government suffered a serious blow with several accusations of corruption and misuse of authority against his cabinet, forcing some of its members to resign. Most political analysts at the time were certain that Lula's political career was doomed, but he managed to hold onto power, partly by highlighting the achievements of his term (e.g., reduction in poverty, unemployment and dependence on external resources, such as oil), and to distance himself from the scandal. Lula was re-elected President in the general elections of October, 2006. Having served two terms as president, Lula was forbidden by the Brazilian Constitution from standing again. In the 2010 presidential election, the PT candidate was Dilma Rousseff. Rousseff won and assumed office on January 1, 2011.