* Peru’s President
Pedro Castillo has initiated a new cabinet reshuffle, replacing six ministers including the economy & finance minister,
Óscar Graham. The reshuffle was triggered by the
attempted resignation of Prime Minister
Aníbal Torres on 3 August, which was rejected by Castillo two days later. Graham has been replaced by
Kurt Burneo, a former director of Peru’s central bank (2001-2006) who also served as production minister in 2011. Burneo appears to have been chosen to reassure markets that have regularly been spooked by political volatility under Castillo. In an interview with the
RPP radio station, Burneo stressed the importance of growing the economy and separating the tumultuous political situation from Peru’s economic stability. In order to improve growth, Burneo emphasised the need to increase public spending which he said would stimulate private investment. He said he would also seek to improve relations between his ministry and congress, as well as with the independent central bank. Castillo made five other changes: Foreign Minister
César Landa was replaced by
Miguel Rodríguez Mackay; Culture Minister
Alejandro Salas was replaced by
Betssy Chávez; Salas replaced
Juan Lira Loayza as labour minister;
César Paniagua replaced
Geiner Alvarado López at the housing, construction and sanitation ministry; and Alvarado replaced
Juan Barranzuela Quiroga at the transport and communications ministry.
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