No economic surprises
Economic adviser to president elect Ollanta Humala, Kurt Burneo, has said that there will be no surprises once Humala takes office. The move came after trading had to be suspended on Lima’s stock market on Monday as it fell nearly 12.5%. On Tuesday it regained 6% but there is little doubt that the markets are nervous about the election of the left winger.
During the course of the election campaign Humala was forced to revise his manifesto and produced a new roadmap which he said had happened as he listened to the wishes of the people. The uncertainty is likely to continue until he is sworn in on 28th July and appoints a Finance Minister which will help people to judge the direction in which he intends to go.
Mr Humala has already said that he wants to strengthen ties with his South American neighbours and the US which he sees as a ‘strategic partner’. He has appointed a transition team which is a mixture of left wing economists and moderates.