Peru’s President-Elect to Keep Central Bank Head

Posted July 18th, 2011 at 4:55 pm (UTC-5)
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Peruvian President-elect Ollanta Humala says he will reappoint Julio Velarde as central bank chief, in an apparent signal to investors that the country's current economic policies will continue.

President-elect Humala made the comment in an interview on local television. He is expected to name his Cabinet on Wednesday. Mr. Humala takes office July 28.

Mr. Humala was elected this past June in a runoff, defeating Keiko Fujimori, the daughter of imprisoned former president Alberto Fujimori. Much of the campaign focused on continuing Peru's rapid economic growth of recent years, while ensuring that the poor also see some of that increased prosperity.

Mr. Humala first ran for president five years ago but was defeated by current President Alan Garcia. Back in 2006, Mr. Humala opposed a free trade agreement with the United States and pledged to limit foreign investment in Peru. Mr. Humala has since moderated his political discourse, and reports say he has pledged to follow Brazil's market-friendly model.