Brazil’s first woman president sworn in; vows to eradicate poverty

Dilma Rousseff has taken over as the first woman president of Brazil, South America's largest and the world's eighth-largest economy, assuming power from her much-admired predecessor and mentor Luiz Inacio Lula da Silva in a glaring swearing-in ceremony Saturday in the nation's capital Brasilia.

The symbolic handing over of the presidential sash by the outgoing president Lula to the new president, was attended by a large gathering of government officials and foreign dignitaries including Venezuelan president Hugo Chavez, Spanish prince Felipe de Asturias, and leaders from South Korea, Japan, Portugal, Cuba and other nations. (See: Brazil's 'iron lady' Rousseff elected first female president)

In her inaugural speech, Rousseff, 63, pledged to continue Lula's policies stating "I will look after the most vulnerable. I will govern for all Brazilians."

Lula stepped down in accordance with the Brazilian law, after serving two consecutive terms with his populist policies that transformed the nation to a healthy economy, and a recognised global power.

"But Lula will be with us. I know that the distance of this position won't mean anything to a man of such greatness and generosity," Rousseff said.

In her speech, Rousseff stressed on areas such as tax reforms, environment, health, and regional development.