July 1, 2001
For an impoverished country that has had little to cheer about in recent years, Peru's June election of Alejandro Toledo, the former shoeshine boy, has given ordinary people and investors reason for hope.
"It's as if a gray cloud has moved aside," says Ray Campos, vice president of investor relations at Banco de Crédito del Perú in Lima. "Compared with the last few years, there is room for optimism. At least we have a resolution - we know who is going to be president. Now people can start to take investment decisions again."
Alejandro Toledo will have
to work hard to
Peru has endured erratic economic policies and political corruption at the highest levels. President Alejandro Toledo now must convince investors that the country will pursue a disciplined recovery.