Reuters
[Source: Reuters]
Peruvian President Dina Boluarte named Eduardo Arana, the Andean nation’s latest justice minister, to become prime minister.
Arana steps into his new role a day after the previous prime minister, Gustavo Adrianzen, resigned ahead of a censure vote he was facing in Congress on his handling of crime and the killing of a group of 13 miners.
With Adrianzen’s resignation, the rest of the cabinet was formally required to step down from their roles as well, though all but Arana retook their positions in a ceremony on Wednesday.
That includes Raul Perez, who became economy minister on Tuesday, replacing former minister Jose Salardi after just a few months on the job.
Juan Alcantara, an attorney who had served as deputy justice minister, will take Arana’s place in the ministry.
Boluarte’s deeply unpopular administration has been under pressure to combat rising crime ahead of elections next year.
Peru, with high minister turnover, has had six presidents since 2018 due to resignations and removals.
Peruvian assets were underperforming, with the local sol currency down 0.6% versus the dollar while the regional FX index (.MILA00000CUS), edged up.
International dollar bonds were also under pressure, with all maturities past 2050 down around 1 cent. Peruvian Eurobonds continue to have some of the tightest spreads in the region.
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