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In A Surprising Turn Of Events

Dina Ercilia Boluarte Zegarra (b. May 31, 1962) became the first female President of Peru on December 7, 2022. Dina Boluarte, a lawyer by profession, got an opportunity to serve as the 64th President of the Latin American country after a failed self-coup d’état by her predecessor José Pedro Castillo Terrones that resulted in his impeachment, ousting, and arrest.

There have been a couple of attempts to impeach Castillo since he came to power in 2021. On December 7, Castillo called for the dissolution of the Congress, run by the Oppositions, on national television. He also declared a National Emergency. Castillo announced that he would temporarily shut down Congress and launch a “Government of exception“, while calling for new Legislative Elections. As expected, his announcement triggered nation-wide protests, with common people taking to the streets in major cities. A number of ministers also resigned from the Cabinet. Supporters of both the Ruling and Opposition parties involved in clashes even in the presence of the Police.

As the situation went out of control, the Congress immediately moved ahead with the previously planned impeachment trial, with 101 votes in favour of removing Castillo, six against and 10 abstentions. The result was announced with loud cheers, as the Legislature called Vice President Dina Boluarte to take office. Boluarte, who was sworn in as President through 2026, reportedly called for a political truce to overcome the ongoing crisis, saying that a new Cabinet, inclusive of all political stripes, would be formed soon.

Experts are of the opinion that it would be a great challenge for Boluarte to save the Peruvian Economy, as Peru’s sol currency fell over 2% against the US Dollar at its session low before recovering slightly to trade down 1.4% (after Boluarte became the President). The turmoil has already rattled markets in the world’s No 2 copper producer. However, Andres Abadia of Pantheon Macroeconomics stressed: “Peru’s financial markets will suffer, but won’t collapse, thanks mainly to solid domestic fundamentals.

Meanwhile, the Global Community has slammed Castillo for triggering the crisis, saying that his move to dissolve the Congress was an attempted coup. Lisa Kenna, the US Ambassador to Lima, wrote on Twitter: “The US categorically rejects any extra-constitutional act by President Castillo to prevent the Congress from fulfilling its mandate.

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