Lusinchi's political party, the Democratic Action, was able to remain in power following the 1988 election of Carlos Andrés Pérez as president. Pérez received 53% of the vote, while the others gained at least 40%. Pérez then proposed a major shift in policy by implementing economic reforms recommended by the International Monetary Fund (IMF). The program, called "" (The Great Turn), but popularly known as the "paquete" (the "package"), was contrary to statements made during Pérez's populist campaign in which he had described the IMF as "a neutron bomb that killed people, but left buildings standing."