New Finance Minister

PERU - In Brief 07 Jun 2018 by Roberto Abusada
President Martin Villanueva has just announced that he has chosen Mr. Carlos Oliva as the new Minister of Finance. Mr. Oliva previously worked at this Ministry under Luis Miguel Castilla, who served as Finance Minister in the Humala Regime for three years, and as Vice Minister for the Budget (Hacienda). Before that he worked as an economist at the Interamerican Development Bank, and also served as a Member of the Board of Governors of the Central Bank of Peru. Oliva is know for his orthodox and prudent views on macro fiscal policy, and he holds a Master's degree in Economics from Georgetown University, Washington DC.In our last Report we mentioned that the likely candidate for this post would have been Jose Arista, but his nomination was discarded when, as Minister of Agriculture in Kuczynski´s cabinet, he yielded to pressures from agricultural workers´ demands that the government should purchase the surplus potato crop. Given the barrage of criticism of the Vizcarra government over several instances in which it has succumbed to demands of special interest groups, it became obvious that naming Arista would have validated this recent government behavior that has been the main cause of the recent decline in Vizcarra's popularity rating.

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