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New Finance and Mining Ministers Sworn In Amid Cabinet Reshuffle

PERU
  • President Boluarte swore in four new ministers late Tuesday, including new heads of the finance and energy & mines ministries, in the most significant cabinet reshuffle since becoming President 14 months ago.
  • The moves come at an interesting point for the economy, with growth dwindling and the pipeline of new mining projects slowing. Furthermore, the country’s state-owned oil company, PetroPeru, has been experiencing a cash crunch and its ownership was recently transferred to the finance ministry.
  • Jose Arista becomes the new finance minister, replacing Alex Contreras. It is worth noting that Arista briefly served in the role in 2020, during a presidential administration that lasted only days. He is also a former budget director.
  • The president also swore in Romulo Mucho as new energy and mines minister, replacing Oscar Vera. Mucho has in the past served as vice minister in the same ministry.
  • Boluarte also picked Walter Astudillo to serve as her new defense minister, while Juan Carlos Castro will take over as the country's next environment chief.
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