New Peru president will not nationalize economy, pledges new ways of mining

Former schoolteacher and union leader Pedro Castillo said it was not his intention to nationalize Peru's economy and pointed that the country needed a "new way of doing mining in its territory" in his inaugural speech as president on July 28.

Castillo was elected Peru's new president after a contested second round of elections held in June.
His left-wing party, Peru Libre, won 50.13% of valid votes in the election, a narrow lead of just over 44,000 votes over his opponent, Keiko Fujimori, of the right-wing Fuerza Popular party. 

Peru Libre had previously advocated for the nationalization of the country's natural resources. Nevertheless, "we do not even remotely intend to nationalize our economy or make an exchange-rate control policy," Castillo said in his speech to Peru's...

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