Menem embraced and enacted neoliberal policies: a fixed exchange rate, business deregulation, privatizations, and the dismantling of protectionist barriers normalized the economy in the short term. He pardoned the officers who had been sentenced during Alfonsín's government. The 1994 Constitutional Amendment allowed Menem to be elected for a second term. With the economy beginning to decline in 1995, and with increasing unemployment and recession, the UCR, led by Fernando de la Rúa, returned to the presidency in the 1999 elections.