International

Peru president-elect wants government of all political persuasions

AFP

Peru’s left-wing President-elect Pedro Castillo revealed on Tuesday he would be looking to form a pluralistic government in his first remarks to reporters since his election was confirmed.

The trade unionist’s victory over right-wing populist Keiko Fujimori was confirmed on Monday, more than six weeks after the second-round presidential run-off.

“We’re forming a working team and I can see that there are people who are pretty interested in supporting this government, from all political persuasions, also people who aren’t political that I met today and who are available,” said Castillo, who will be inaugurated next week.

“We are putting out a call to all the experts, to the most distinguished and committed people in the country,” added the rural school teacher as he left a government building in central Lima.

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Castillo’s victory was delayed due to a jury review of claims of electoral fraud made by Fujimori, despite observers from the Organization of American States, the European Union and United States declaring the vote free and fair.

Governability will be one of Castillo’s great challenges following a polarized campaign in which his opponent repeatedly branded him a communist and tried to discredit him.

“I ask for calm and serenity from the Peruvian people. That’s not just the government’s responsibility but also that of all Peruvians,” said Castillo, 51.

He must soon announce his cabinet and appointments to key ministries.

But his Peru Libre (Free Peru) party holds only 37 of the 130 seats in a fragmented congress meaning he faces a challenge in delivering on the promises he made during the campaign, in a country that has been rocked by recent political upheaval that saw three different presidents in power in November 2020 alone.

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However, he received a boost from the major business organization Confiep, which said it was “available for constructive dialogue to achieve inclusive growth for everyone.”

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.