​President Kukzynski has resigned

PERU - In Brief 21 Mar 2018 by Roberto Abusada

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A few minutes ago, through a television address, the president announced his resignation thus avoiding the impeachment procedure that was scheduled for tomorrow.During a seven-minute speech, Kuczynski blamed the opposition majority in Congress pointing to their frivolous and arbitrary behavior, which resulted in the censure of several of his ministers. He also accused Congress of trying to force a second impeachment based on the same evidence that was put forth in the first one three months ago. In reference to the latest videos showing presumed vote-buying actions to avoid the impeachment, the president lamented that those who wanted to oust him had resorted to the same foul methods that were used in Peru's recent past.Kuczynski again denied any wrongdoing, drawing attention to a 60-year unblemished and honest professional career.After thanking his ministers and associates, he stated that a constitutional and orderly transfer of power would take place. Vice president Martín Vizcarra, currently serving as ambassador to Canada, is expected to arrive in Lima tomorrow morning.Markets have reacted positively to the announcement. Local currency and stock exchange indices strengthened moderately.