Peruvian Currency Yields After Possibility of Vacancy of the President

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Peruvian Currency Yields After Possibility of Vacancy of the President

Pedro Pablo Kuczynski,

Pedro Pablo Kuczynski,

Last week, Peruvian President Pedro Pablo Kuczynski spoke in public television about his performance as an external consultant, through his financial advisory companies, one of them Odebrecht, charged with systemic bribery to high-ranking Latin American government officials in order to obtain concessions.

The president, known as “PPK”, also spoke about his performance. But this time with the press that, according to political analysts, did not come to understand the investment banking business model that Kuczynski practiced as an independent professional a decade ago when advising the Brazilian.

Political agitation comes from questioned major political group

The vice-president of the treasury of a Peruvian bank that requested a reserve explained that the objective against the Peruvian president, former investment banker and 79 years, is political and has nothing to do with a supposed moral inability to exercise the position.

Kuczynski is accused of working and receiving a fee through a company where he was a shareholder; and the accusation comes from a parliamentary majority of 71 congressmen where more than half have investigations and accusations for crimes, according to what he said in reference to the political group Fuerza Popular led by Keiko Fujimori Higuchi.

Alberto Fujimori, former president of Peru

Alberto Fujimori, former president of Peru

Fujimori Higuchi, who has had no known work since he was of legal age, is the daughter of Alberto Fujimori, ideological founder of Fuerza Popular: a group that has been investigated by the Peruvian prosecutor’s office for money laundering and for having received, during the campaign of 2011, Odebrecht money according to a testimony given last month by Marcelo Odebrecht from Brazil.

Alberto Fujimori has been imprisoned since 2010 in Lima after resigning by fax to the presidency in the year 2000, serving a sentence for crimes such as robbery, embezzlement, murder, kidnapping, and conspiracy to commit crimes.

This group, Fuerza Popular, is investigated for laundering, not only that but the prosecutor’s office found a double accounting of contributions for the political campaign that wishes to vacate for “PPK” in their offices, added the top executive while saying that the concern is also focused on the country’s economy.

According to the Thomson Reuters news agency, there is turmoil in Peru’s currency market from early hours, the agency said. However, for analysts of banks trading tables and brokerage houses, the blow has not been so onerous.

The sale price of the dollar stood at 3,299 soles (per unit) in the interbank market, a level similar to that of the previous day of S/3,299 per US dollar, they clarified. In the unregulated parallel market, the purchase and sale of dollars are negotiated at S/3.26 and S/3.28 respectively. The euro’s purchase and sale version is at $1.15 and $1.18 each.

There have been almost two years lost in macroeconomic reforms; we have the investments paralyzed at public and private level by the obstructionism of Fuerza Popular group that since losing the elections in June 2016 has been dedicated to pull out ministers and prevent initiatives in favor of reactivation, said on the other hand, the banker consulted.

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