Peruvian Populism

Peruvian Populism

Economy & Policy

As this issue went to press, Ollanta Humala – a nationalistic former army commander and pal of Venezuela's Hugo Chávez – had won a spot by a strong margin in the second round of elections for the Peruvian presidency. The final vote is expected to take place sometime before June. In a country that has posted steady economic growth for seven straight years, with a 2005 expansion of 6.7% and anticipated growth of 5.5% in 2006, a shift toward outright populism should be inconceivable. Here's the rub: with the price of top Peruvian exports like copper and gold hitting record highs, the average Peruvian knows that it's boom time, but he isn't seeing the benefits. In mining towns, w

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial