Following an intense period of political activity, the competing political parties signed a Pact for Democracy on 10 August, reducing President Balaguer's term of office from 4 to 2 years, setting early elections, and reforming the constitution. A new Central Electoral Board was named to work on electoral reform. The main candidates in 1996 were Vice President Jacinto Peynado (PRSC), José Francisco Peña Gómez (PRD), and Leonel Fernández (PLD).
