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Free AccessCastillo Proclaimed Next President By Electoral Court
- Pedro Castillo, the provincial schoolteacher who promised to restructure Peru's economy to favour the poor, was confirmed Monday evening as the president-elect more than six weeks after the election. The result followed a deeply divisive election and last-ditch legal challenges by his opposing run-off candidate Keiko Fujimori.
- Castillo's most recent rhetoric, especially relating to the central bank governorship, has provided comfort for markets. However, his pledge to increase the state's role in the economy brings with it a dynamic of heightened uncertainty.
- His chief economic adviser, Pedro Francke, has called for fiscal prudence and inflation-targeting, and is opposed to nationalisation of companies.
- Castillo's inauguration speech will be held on July 28 where he is expected to outline the government's policy intentions.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.