Political Problems Bedevil Toledo
Despite Peru's strong economic record, its president is very unpopular and investors are frustrated by his policy indecision.
Alejandro Toledo had plenty to crow about when he addressed
the Council of the Americas in New York on a gray September
He could have boasted that Peru posted the region's highest
economic growth rate last year, and is likely to rank second in
2003. He could have pointed out that Peru's current account
deficit has narrowed and that its international reserves are
But Toledo wasn't basking in his economic record. Instead,
he said, "We have been a good student, put our house in order
economically, but the people are unsatisfied because we haven't
been able to translate growth into poverty reduction and jobs."
This explains why the country is in such an angry mood and why
Toledo is so unpopular. His public approval rating sank to
around 11% in August, a month after he dismissed his second
cabinet since taking office in 2001. He got...
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