Economy & Business - May 2022

As Castillo flounders, Peru’s economy switches to autopilot

Peruvians have tired of President Pedro Castillo. Even prior to his bungled responses in April to protests against rising consumer prices and the mining sector, some 76% of Peruvians disapproved of him, an April Ipsos poll showed. Yet whilst Castillo’s approval ratings are in the doldrums, the economy is ticking along at a steady pace – in no small part due to the government’s inability to steer it in the radically new direction that Castillo promised upon taking office last July.

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