Pres Castillo Picks Héctor Valer As Peru PM, Ex-Central Bank Economist Named FinMin

Peru President Pedro Castillo picks Héctor Valer to replace Mirtha Vásquez as Prime Minister and unveils new Cabinet line-up.

• Valer is known as a moderate lawmaker associated with a parliamentary group seeking to draw up a new constitution. Replacing Peru's market-friendly constitution was a key campaign pledge of President Castillo, who is expected to seek Valer's help in making good on his promise.
• In an apparent attempt to appease markets, Castillo named UK-educated economist Oscar Graham, a technocrat with experience in the public sector, as new Finance Minister. Graham had previously worked for Peru's central bank for over a decade, before moving to the Finance Ministry and the Ministry of Production.
• Valer's predecessor Mirtha Vásquez announced her resignation on Monday after less than four months in office, citing difficulties with finding consensus within the Cabinet.