Peru is in political crisis as protest push interim president to quit.
According to the PBS Newshour, The Latin American nation’s political turmoil took a chaotic turn when interim leader Manuel Merino quit and congress couldn’t decide on his replacement. This left Peru in crisis less than a week after legislators ignited a storm of protests by removing President Martin Vizcarra, an anti-corruption crusader who is highly popular among Peruvians. Peru has much at stake, the country is in one of the world’s most lethal coronavirus outbreaks and political analyst say the constitutional crisis has cast the country’s democracy into jeopardy.
According to another article posted by NBC News, Peru is headed for its worst economic contraction in a century. Vizcarra was impeached and removed from office by Congress over allegations of corruption, which he denies. Merino resigned, after two people died in protests against his fledgling government and lawmakers threatened to impeach him unless he stood down. “There is a political immaturity from some and a lack of self-awareness from others in the face of what has happened in the country in the last week,” legislator Alberto de Belaunde, from the centrist Morado Party, told reporters. His party is now nominating Sagasti to be Peru’s third president in a week.
Amid the uncertainty, Peru’s markets and currency have come under pressure. Bonds rose, then fell early on Monday. The timing of the crisis could not be worse. Peru has the world’s highest per-capita COVID-19 mortality rate and has seen one of Latin America’s worst economic contractions.