The violent chaos roiling Peru spread on Monday after President Dina Boluarte’s call for early elections failed to calm demonstrators protesting against her five-day old government. Know more:
The violent chaos roiling Peru spread on Monday after President Dina Boluarte’s call for early elections failed to calm demonstrators protesting against her five-day old government.
In an address late Sunday night, Boluarte called for elections to be brought forward two years to 2024, and also imposed a state of emergency in in some Castillo strongholds where protests are most intense. Boluarte was elected as Castillo’s vice president, for a term that expires in 2026. The developments over the last week underscore Peru’s long-running political crisis that has seen congress continually confront sitting presidents for the better part of a decade, with the last person to fully finish his term being Ollanta Humala in 2016. Boluarte is the nation’s sixth head of state since the start of 2018.
The magnitude of the protests has been surprising, said Sarah Glendon, senior analyst at Columbia Threadneedle Investments in New York. Ratings agency S&P Global Ratings Monday revised the nation’s outlook to negative from stable, citing increased risks to institutional stability, but kept its rating two notches above junk territory at BBB, in line with Panama and Uruguay.The demonstrations are affecting harvesting, packing and transport to the port of perishable goods, said Gabriel Amaro, head of Peru’s agricultural producers, in reply to written questions.
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