He launched a coup d'état, with the support of many military officers who felt Banzer manipulated the armed forces for his own political ends. After Banzer was forced to leave the Palacio Quemado in July 1978, Pereda was sworn in as president, although not a constitutional one, since the fraud had been so conspicuous that it was plain to see. He did blame Banzer, however, and stated non-commitally that he would call new elections within a reasonable span of time.
He orchestrated a coup d'état, supported by many military officers who felt Banzer exploited the armed forces for his political gain. After Banzer was forced to leave the Palacio Quemado in July 1978, Pereda took office as president, although not legally, due to the blatant fraud that made it evident. He held Banzer accountable and vaguely promised new elections within a reasonable timeframe.