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Free AccessCastillo's Appointments May Prove To Be His Undoing
- The designation of Bellido as PM shows Castillo has decided to ally himself with the more radical elements of his party, and he is betting on a strategy of confrontation against Congress, which is largely made up of the opposition.
- It is not premature to say this decision will likely prove to be Castillo's undoing, and it is evidence that both he and Cerrón are overestimating the level of popular support for their new government.
- The mainstream media immediately aligned itself with the right after the runoff and will now be heavily critical of his policies; the business sector would love to see him removed; and the military, currently without a chief of the Armed Forces, has refused to symbolically recognize Castillo as commander-in-chief until he names a replacement.
- Several lawmakers have called for Bellido's resignation, the president of Congress, María del Carmen Alva, from the centrist party Acción Popular, has stated that they will first meet Bellido and hear what he has to say rather than reject him outright.
- Given Castillo's political clumsiness and apparent lack of concern with having corrupt individuals and sympathizers of Shining Path among his ministers, it's not hard to foresee an impeachment process in the near future.
- The failure to govern at this juncture will only deepen the existing polarization, destabilize the economy and open the way for even more radical, undemocratic options, this time from the far right. And they would not squander the opportunity.
To read the full story
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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.