Dilma Rousseff was elected as the first female president in Latin America’s largest economy by winning the run-off presidential race on October 31 with 56.1% of the vote, compared with 43.9% for her opponent, Jose Serra. The result was expected given recent poll results. The new president will take office on January 1, 2011.

According to the press, in her acceptance speech, Rousseff said that her main goal is to eradicate poverty while maintaining a responsible fiscal stance and committing to low inflation. Rousseff highlighted her pledge to solid macroeconomic management, economic stability and social development.  She also said that she will maintain a pro-business environment and improve efficiency in the tax system and government. Rousseff also mentioned that the outgoing president, Luiz Inácio Lula da Silva, will play an important role in her government as he will likely be consulted on key issues.

Editor’s Note: This post is excerpted from a much longer analysis available exclusively to RGE Clients, LatAm Focus: Brazil’s PMI Falls Below 50; Argentina’s Tax Revenues Grow