The former central bank economist has been named Peru’s new finance chief

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(Bloomberg) — Peru’s new president, Dina Boluarte, has named a U.S.-educated economist who spent time at the central bank as economy minister, a move that could calm investors’ nerves after last week’s political turmoil.

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The new finance chief, Alex Contreras, served as deputy economy minister under former president Pedro Castillo, who was ousted on December 7. Contreras worked at the central bank between 2007 and 2019, according to a statement on the ministry’s website. He has taught macroeconomics, monetary theory, statistics and economics at local universities.

Read more: Supporters of ousted Peruvian president block roads as protests spread

Blouwart is trying to find allies in Congress and consolidate her power after the chaos sparked by Castillo’s fall on December 7. Peru’s stocks, bonds and currency initially fell after Castillo tried to dissolve Congress, only to be impeached and arrested hours later. .

Boluarte appointed Oscar Vera as Minister of Mines and Energy. Vera is a chemical engineer who previously worked for state oil company Petroperu, La Repubblica newspaper reported.

Pedro Angulo Castillo, a former prosecutor, was appointed as the sixth prime minister 18 months after taking office.

Castillo’s supporters are still protesting in cities across the country, blocking some highways and calling for his release and new elections. The road closures are affecting the strategically important route that connects Peru’s largest port of Callao, as well as the capital, to southern states where agro-industrial products such as blueberries and grapes are exported.

In the southern city of Andahuaylas, two police officers were taken hostage by protesters, and 20 people were injured in violence on Saturday, La Repubblica reported.

The protests have challenged Bolwart as she tries to restore order. Because the new president does not have a party in Congress, she herself is at risk of being ousted before the end of her term in 2026. Bolwart is the sixth leader of the politically volatile country since the start of 2018.

Read more: Peru risks 20-year sentence as Castillo grants Mexico asylum

Castillo’s approval ratings dropped to 25% at the time of his impeachment, but he still enjoyed significant support among poor farmers and other groups such as teachers. Bolwarte was furious when Castillo tried to dissolve Congress.

Read more: Accused, arrested, wanted: President in Peru is a dangerous job.

(Adds details about protests from paragraph 6. An earlier version of this story corrected the spelling of the prime minister’s first name.)