Da Silva Inaugurated as Brazil's President

Brazil's newest president, Luiz Inacio Lula da Silva, has been sworn into office two months after being elected in a landslide victory. 02/01/2003 02:10 VOA

Tens of thousands of people cheered after the 57-year-old leftist politician and former labor leader was inaugurated Wednesday. Leaders and representatives from around the world, including Cuban President Fidel Castro and Venezuelan President Hugo Chavez, attended the ceremony in Brasilia. Inaugural festivities for the public are happening in the capital.

The new Brazilian president is an elementary (primary) school dropout and worked shining shoes as a boy. He rose from poverty in Brazil to become a prominent labor leader who launched three unsuccessful bids for president before clinching victory in October.

Mr. da Silva, of Brazil's Workers Party, won 61 percent of the vote in October's runoff election. His closest rival, government-backed candidate Jose Serra, received 39 percent support. President da Silva has promised to honor Brazil's financial commitments, keep inflation down and maintain fiscal stability. He says his administration will work with the International Monetary Fund to stabilize Brazil's finances. He has also pledged to create jobs and eliminate hunger.

Mr. da Silva, known widely as "Lula," has warned that difficult times are ahead for the country, and suggested he may not be able to fulfill his campaign promises during a single four-year term. He succeeded Fernando Henrique Cardoso. Brazil is battling high inflation and struggling with foreign debt totaling some $260 billion. In September, the IMF extended a $30 billion loan to Brazil to stabilize the economy amid uncertainty surrounding the election.