Julio Velarde will remain as president of the Peruvian Central Bank for another five years, the same job he has held since 2006, and is acknowledged as the man who helped stabilize the country's markets, with low inflation. The news should come as a relief for investors and holders of Peruvian bonds.
Peruvian president Pedro Castillo seems to have weathered two political storms involving his Economy and Justice ministers, Pedro Francke, and Anibal Torres acknowledged as outstanding figures in the country, but who refused to join the cabinet because of differences with cabinet chief Guido Bellido, described as a radical left-winger.
Pedro Francke, a 60-year-old economy professor and advisor to presidential frontrunner Pedro Castillo, has announced “there will be no expropriations, no nationalization, or price controls” in Peru, the Madrid daily El País reported.