Pedro Castillo: Left-wing rural teacher becomes Peru's president, promising a new constitution

Pedro Castillo: Left-wing rural teacher becomes Peru's president, promising a new constitution

7/29/2021 1:07:00 AM

Pedro Castillo: Left-wing rural teacher becomes Peru's president, promising a new constitution

Pedro Castillo, who faces a divided congress and a coronavirus-ravaged economy, says he is seeking a 'new pact' with private investors.

pandemic. Economic gains made over the last decade have been eliminated.Private companies are fearful that Mr Castillo will hike taxes on mining to fund health and education reforms.Please use Chrome browser for a more accessible video playerPedro Castillo's family leave behind rural life

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But on the day of his inauguration, he said there was"not the remotest" plan to nationalise industry.He will be seeking a"new pact" with private investors, however.In a speech shortly after being sworn in, he said he wanted the state-owned bank to compete with private lenders but that he would maintain economic"order and predictability".

He faces a divided Congress, meaning his political abilities will be tested from the start.Image:Mr Castillo receives the presidential sashClaudia Navas, an analyst with the global firm Control Risks, said his government begins amid"considerable uncertainty". headtopics.com

She added:"We still do not have clear his main lines of policy. However, we foresee that possibly, due to the characteristics of the Peruvian political system and the current general political and economic situation of the country, that Castillo will maintain a more pragmatic position than he announced during the campaign.

Read more: Sky News »

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he ha nince speech , constiion , and a sombrerora hat No more poor in a rich country .... how does that work. ? It's socialism... We just make it a poor country La Nueva Venezuela se fastidiaron los peruanos 'No more poor in a rich country' sounds like an awesome way to start your presidency. I hope he can deliver :)

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