International

New Peru president to be announced July 20: electoral body

AFP

Peru’s electoral tribunal announced on Tuesday that it will proclaim on July 20 a winner from last month’s presidential election.

“We hope that by Tuesday of next week we will have the general act of proclamation already agreed,” said Alexandra Marallano, advisor to the presidency of the National Elections Jury (JNE).

Presumably Peruvians will finally know the results of the June 6 runoff between leftist Pedro Castillo and right-wing populist Keiko Fujimori.

That announcement will come just eight days before the new leader is due to be sworn in to replace interim President Francisco Sagasti.

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“There will be a resolution to close the electoral process that determines who the winners are and the composition of the new government,” added Marallano, cited by the Andina state news agency.

Castillo received 50.12 percent of the ballots cast — some 44,000 more than Fujimori — but the daughter of disgraced and jailed former president Alberto Fujimori challenged the results and cried fraud.

Election jury officials have been examining disputed ballots.

She has a lot to lose if she is not elected as she faces a corruption trial if unsuccessful and fails to gain the legal protection election would afford her.

She has already intimated that she “will not accept” any JNE decision that goes against her.

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Fujimori’s backers have called for new elections to be held, while she has urged Sagasti to seek an international audit of the vote.

Hundreds of supporters of both candidates in the polarizing election have set up camp in the Peruvian capital to “defend” their votes.

The JNE originally said it would announce the new government on July 15 but that was delayed by the resignation of one of the tribunal’s four judges.

The United States, European Union and Organization of American States have said the election was free and fair.

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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.