LIMA, Oct 7 (Reuters) - Peru’s currency and equities markets rose strongly on Thursday, seeming to cheer a partial cabinet reshuffle by President Pedro Castillo, who replaced his far-left prime minister with a more moderate official.
The sol currency bounced 1.3% after having marked a record low the previous day amid political uncertainty and clashes within the government in the world’s second-largest producer of copper.
Castillo swore in Mirtha Vasquez, a left-leaning former head of Congress, as prime minister on Wednesday, replacing Guido Bellido, whose brash style had rattled investors and the Andean country’s opposition-led Congress.
The move hinted at a shift toward the center for Castillo’s young administration, after he swept to power in late July pledging to shake up the mining sector and boost spending. His government has been a mix of moderates and more hard-left politicians allied to his Marxist-Leninist Free Peru party.
A selective index of Peruvian stocks rose almost 5%, while dollar-denominated sovereign bond prices rose across the curve, with the 2031 bond adding over 1 point to trade at 99.987 cents on the dollar, its highest since Sept 27. (Reporting by Marco Aquino; Additional reporting by Rodrigo Campos; Editing by Adam Jourdan and Dan Grebler)
The Link LonkOctober 07, 2021 at 10:18PM
https://www.reuters.com/article/peru-markets/peru-markets-cheer-cabinet-reshuffle-after-hard-left-pm-exits-idUSL1N2R31KN
Peru markets cheer Cabinet reshuffle after hard-left PM exits - Reuters
https://news.google.com/search?q=hard&hl=en-US&gl=US&ceid=US:en
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