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Castillo's Referendum Proposal Weighs On Local Asset Prices

PERU
  • President Pedro Castillo sent to lawmakers the draft of a bill for a referendum to change the country’s constitution, which was published on the congress’ web site.
    • The bill proposes the referendum question of “Do you approve of the call for a Constituent Assembly to draw up a new political Constitution?
  • Peru Vice President Dina Boluarte said there is no reason to fear a referendum on a new constitution, according to remarks made to reporters via TV Peru.
  • However, Peruvian head Of Congress Maria Alva said the government seeks to dissolve congress and that a referendum to change chapter is unconstitutional while speaking to journalists. Additionally, Alva said Peru ministers could be accused if they sign referendum. (BBG)
  • Local assets came under pressure amid the political turmoil with the Lima stock exchange falling around 5% intra-day and the Peruvian Sol retreating over 1%.
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