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PERU: Congress Rejects Motion To Fire Finance Minister Arista

PERU
PeruEM BulletBulletGlobalEmerging Market NewsRegion
  • In a vote in Congress yesterday, Peruvian lawmakers voted against a motion to fire Finance Minister Jose Arista for his lack of suitability for the position. The vote came amid criticism over a bailout for state oil company Petroperu and a growing fiscal deficit, with the motion rejected by 57 votes against, 14 in favour and 13 abstentions.
  • Separately, Prime Minister Adrianzen said yesterday that it is proving difficult to find the right people to fill the board of Petroperu and that he doesn’t know when a board will be named. The company has been without a board for more than five weeks after the previous one resigned amid concerns about the company’s unsustainable financial position. Finance Minister Arista has said several times that a new board would be named shortly, but each deadline so far has been missed.
  • Meanwhile, the local data calendar remains light, with the next events scheduled to be October CPI inflation on Nov 1, followed by the BCRP rate decision on Nov 7.
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  • In a vote in Congress yesterday, Peruvian lawmakers voted against a motion to fire Finance Minister Jose Arista for his lack of suitability for the position. The vote came amid criticism over a bailout for state oil company Petroperu and a growing fiscal deficit, with the motion rejected by 57 votes against, 14 in favour and 13 abstentions.
  • Separately, Prime Minister Adrianzen said yesterday that it is proving difficult to find the right people to fill the board of Petroperu and that he doesn’t know when a board will be named. The company has been without a board for more than five weeks after the previous one resigned amid concerns about the company’s unsustainable financial position. Finance Minister Arista has said several times that a new board would be named shortly, but each deadline so far has been missed.
  • Meanwhile, the local data calendar remains light, with the next events scheduled to be October CPI inflation on Nov 1, followed by the BCRP rate decision on Nov 7.