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Congress Remain Undecided On Early Elections, Moody’s Downgrades Outlook

PERU
  • Peruvian lawmakers on Tuesday once again failed to agree on a plan to bring forward elections in a bid to end weeks of deadly protests that have brought parts of the South American country to a standstill.
  • Congress was reported to have adjourned until Wednesday, after first rejecting Boluarte's proposal on Friday and then on Monday. As lawmakers debated Tuesday, demonstrators gathered for new protests in central Lima, only a few blocks from Congress.
    • A survey by the Institute of Peruvian Studies found 73 percent of respondents want elections this year. If lawmakers again refuse to hold earlier elections, Boluarte has said she will propose a constitutional reform allowing a first voting round to be held in October and a runoff in December.
  • Separately, Moody’s Investors Service cut Peru’s outlook to negative from stable, citing the mass protests that have roiled the nation over the last eight weeks.
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