Trial now

Issuance Plan Eyed


Commodity Related Currencies Bid


Positive Start


5-Year Auction Results


VIEW: TD Securities Tweak RBNZ Call

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

From the Americas Quarterly article by political analyst Andrea Moncada:
  • 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.