(Bloomberg) – Peru’s new President Dina Boluarte named a US-educated economist who has spent most of her career at the central bank as economy minister as she tries to find calm after the turmoil of the past few days.
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Alex Contreras was Deputy Secretary of Economy under former President Pedro Castillo, who was ousted on December 7th. Contreras worked at the central bank between 2007 and 2019, according to his resume on the ministry’s website. He has also taught macroeconomics, monetary theory, statistics and econometrics at local universities.
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Boluarte seeks allies and establishes her authority after the chaos caused by Castillo’s attempt to dissolve Congress. Peru’s stocks, bonds and currencies first plummeted as the constitutional crisis unfolded, but then recovered when Castillo was charged and arrested hours later.
Boluarte appointed Oscar Vera as her Minister of Mines and Energy. Vera is a chemical engineer who previously worked at the state oil company Petroperu, according to La Republica newspaper. She also appointed Petro Angulo, a former prosecutor, as her prime minister.
Supporters of Castillo are blocking highways in some regions to demand his release from prison and new elections, according to the country’s transportation agency. This includes a strategically important road connecting southern provinces, which produce agro-industrial exports such as blueberries and grapes, to Callao, Peru’s largest port, and to the capital.
The demonstrations present Boluarte with a challenge as she tries to restore order. Since the new president has no party in Congress, she faces overthrow before the end of her term in 2026 if she doesn’t get the situation under control. Boluarte is the nation’s sixth leader since early 2018.
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Castillo’s approval ratings had fallen to about 25% by the time of his impeachment, but he still enjoyed considerable support among the poorest peasants and some other groups, such as teachers.
Read more: Accused, imprisoned, wanted: President is a dangerous job in Peru
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