Friday, January 21

Pedro Castillo, president of Peru: what is the popular economy with markets that he proposes (and why does it generate uncertainty)

  • Cecilia Barría
  • BBC News World

Pedro Castillo after being proclaimed president-elect

Image source, Getty Images


Pedro Castillo came to the presidency of Peru with a popular economy program with markets.

“We are not Chavistas, we are not communists, we are not going to take away their properties from anyone, what has been said is totally false, that is sealed: we are democratic, we respect Peruvian governance and institutions,” said President-elect Pedro Castillo at a massive event in late June.

It is a speech that over time has moderated if compared to his statements at the beginning of the electoral campaign, when he was an unknown rural teacher who defended the postulates of a self-declared Marxist-Leninist party.

Castillo, who won the elections by just over 44,000 votesHe had to wait more than a month before being officially proclaimed as the next president of Peru – this Monday – after his rival, Keiko Fujimori, accused him of electoral fraud and challenged him in court.

During all these weeks of waiting after the results of the June 6 elections were contested, Castillo has come out to calm the waters amid a climate of uncertainty about the course that the Peruvian economy will follow under his mandate.

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