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Left-wing candidate Pedro Castillo seemed ready for victory Peru ‘He nailed the presidential election on Monday and set out his economic proposals in a move designed to calm the tight financial markets.
Counting 96% of the votes, Castle Keiko Fujimori, his rival, had a difference of 93,000 votes from 50.3 to 49.7 percent for potential elected members of 24.3 million people. Fujimori had nearly 100,000 votes ahead of him on Monday.
Many of the remaining numbers were from rural areas, as Castillo is the strongest, and the votes of Peruvians living abroad will benefit them. Fujimori it seems that they will not be enough to put the balance in its direction.
In private, some supporters of Fujimori in Lima were acknowledging defeat, even though he gave a press conference on Monday denouncing election fraud, suggesting that if Castillo’s victory is confirmed he will be ready to fight.
The sole, which has seen a tremendous depreciation in anticipation of Castillo’s potential victory in recent weeks, lost more than 2 percent against the dollar to trade in the 3.93 minimum market.
Shares in Peru fell, with the S & P / BVL Peru General Index down 7% on the day in New York. The country’s dollar bonds were also under pressure. The price of the banknote, which will arrive in 2050, has fallen by about 2 percent against the dollar. Another dollar bond matured in 2031 fell more than 1 percent from $ 99.
“We anticipate the volatility of Peru’s assets and note that demonstrations against the results on both sides are due to the tightness of the race,” Citibank said.
In an effort to calm the markets, Castillo’s team made a note explaining its economic plans. His party, Peru Libre, was much more moderate than the manifesto of the campaign.
“In our economic plan we have not taken into account nationalization, expropriation, confiscation of savings, exchange controls, price controls or import bans,” the document says.
Castillo’s team says it will “respect the autonomy of a central bank that has done a good job” [of] keeping inflation low for more than two decades ”.
However, he confirmed that President Castillo would seek to raise taxes on mining companies to pay for health and education expenses.
The election has been an extraordinary uproar among populists on different ends of the political spectrum.
Castillo is a rural primary school teacher who has become an oppressed left-wing crusader, while Fujimori is not very fond of Alberto Fujimori, the daughter of Peru’s former authoritarian president.
Castillo’s chance to win has been sparked panic and capital flight Among the Peruvian elites. Sol has amortized more against the dollar than any other currency in the world first round of voting in April, when Castillo first came out. Dollar-sol transactions have risen about 20 percent in the past month.
In the manifesto, Free Peru advocated nationalization, higher taxes, a new constitution, and a limit on imports from one of the world’s largest producers of copper, zinc, and precious metals. Fujimori, on the other hand, largely defends Peru’s economic model.
Castillo has aroused people in the poor and marginalized villages of the Andes with a simple but powerful message: “There are no more poor people in a rich country.” Fujimori’s proposal to become Peru’s first female president, meanwhile, has been hampered by allegations of corruption that he has denied.
The winner will not have a majority in Congress. Castillo’s party holds 37 of the 130 seats in Peru’s single-chamber parliament and Fujimori’s just 24.
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