International

Peru’s new leader urges calm as protests grow

Photo: Cris Bouroncle / AFP

| By AFP |

Peru’s new President Dina Boluarte called for calm Friday as protests mounted after the impeachment and arrest of her predecessor Pedro Castillo, who stands accused of attempting a coup.

Police on Thursday fired tear gas and clashed with hundreds of protesters who demanded Castillo’s release.

Demonstrations continued on Friday, with protesters blocking roads with rocks, logs, and burning tires as they called for early elections.

Boluarte told journalists that if the situation “warrants it,” the government will consult with Congress on holding an early presidential vote.

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She urged those “who are coming out in protest … to calm down.”

Peru was plunged into political crisis on Wednesday, when leftist Castillo — facing a third impeachment bid — tried to dissolve Congress and announced plans to rule by decree.

However, lawmakers quickly gathered to vote him out of office, and Castillo was arrested on his way to the embassy of Mexico, which had agreed to give him asylum.

The former rural school teacher, who won a shock election victory over Peru’s traditional elites in June 2021, is being held in provisional detention for seven days while prosecutors investigate charges of “rebellion and conspiracy.”

The charges carry a jail term of between 10 and 20 years.

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Boluarte, who served as vice president under Castillo, was hastily sworn in as Peru’s first woman president just hours after the impeachment. She said she would form her government on Saturday.

However, doubt is mounting over her ability to hold onto the job until the end of her mandate in 2026 in a country prone to political instability that is now on its sixth president in six years.

Hundreds of protesters were blocking different sections of the Panamericana Sur highway for a second day on Friday, and further protests and blockades have been called in the capital Lima later in the day.

Protests have also been reported in several towns in Peru’s interior, where poverty is high, and Castillo drew a lot of support for his campaign as a humble man of the people.

Castillo, 53, landed in the crosshairs of the opposition-dominated Congress and prosecutors almost as soon as he took office.

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He had six investigations opened against him during his short time as president, ranging from corruption to plagiarizing his thesis and heading a “criminal organization” involving his family and allies.

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.