Lleras was inaugurated as President of Colombia on 7 August 1966, and called his administration "the era of national transformation" (
"Transformación Nacional"). The reform allowed the executive to intervene in the Central Bank and decree an economic emergency, granting the executive special powers. The administration prioritized giving stability to the exchange rate, which had previously been erratic. Lleras's administration implemented a land reform to redistribute more land to smaller farmers. The administration clamped down on urban labor unrest and did not accommodate student protestors. Lleras implemented an aggressive and broad program of social and economic reforms and created the following agencies and institutions: the national savings fund (
"Fondo Nacional del Ahorro"); the Colombian Institute for the family wellbeing (
"Instituto Colombiano de Bienestar Familiar"); the institute to protect non renewable resources (
"Instituto de Recursos Naturales no Renovables"); the agency to promote exports (
"Fondo de Promoción de Exportaciones" 'PROEXPO'); the national agency of Colombian culture (
"Instituto Colombiano de Cultura" 'Colcultura'); the national agency for the construction of schools (
"Instituto Colombiano de Construcciones Escolares" 'Icce'); and the national institution to promote and finance superior education (
"Instituto Colombiano para el Fomento de la Educación Superior" 'Icfes'). ==References==