Peru's new Marxist PM says 'don't worry' as chances of radical policy shift rise [Reuters]
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Source: Reuters
Pedro Castillo appointed a hard-left Marxist as prime minister while the key post of finance minister remained vacant. FILE PHOTO: Peru's President Pedro Castillo walks out the Congress after his swearing-in ceremony, in Lima, Peru July 28, 2021. REUTERS/Angela Ponce/File Photo Guido Bellido was named here prime minister on Thursday, dimming investor hopes that Castillo would choose moderate policies. Most of the rest of the cabinet was also sworn in, but the lack of an economy czar is likely to create uncertainty in markets already rocked by a campaign in which Castillo described himself a Marxist-Leninist. “Don't worry. Everything's going to be fine,” Bellido said in brief comments to reporters. Markets were not reassured. The local sol currency fell over 3% to an all-time low of 4.055 to the dollar. Peruvian sovereign bonds crashed and the country's benchmark stock index dropped more than 4%, and was on track to close at its lowest since November. Castillo, inaugurated
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