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Nationalisation Rhetoric Spooks Peru Investors

PERU
  • The Peruvian Sol is under pressure in early trade on Tuesday following comments from President Pedro Castillo on Monday, asking congress to pass a law to nationalise the Camisea gas field and calling for a major reform of the constitution.
  • "We urge congress to make a law for the statization or the nationalization of Camisea gas, to give it to all Peruvians," Castillo said from Amazonas province during a tour of cities in the north of Peru.
  • USDPEN has risen 0.52% after briefly rising back above 4.00 for the first time since October 13.
  • Additionally, vote of confidence on new cabinet as well as confidence motion on Prime Minister Mirtha Vasquez have been suspended after a lawmaker from President Castillo's Peru Libre party died of natural causes, party spokesperson Waldemar Cerron said.
    • The debate to resume on Nov. 4 at 9am local time, congress said on its Twitter account.

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