José Olivares has resigned as the head of the treasury department at Peru’s Ministry of Economy and Finance (MEF) for personal reasons, stepping down on Tuesday, a source close to the situation told LatinFinance.
Olivares, who joined the ministry in 2013 and took the helm at the public treasury in October 2019, oversaw the development of a regional capital market in Peruvian soles.
The ministry has not yet named a replacement, a MEF spokesperson said.
On November 18, Waldo Mendoza Bellido replaced José Arista as finance minister following the five-day reign of former President Manuel Merino. Arista had replaced María Antonieta Alva on November 12 after Congress voted to impeach President Martín Vizcarra.
Olivares led Peru’s most recent trip to the international bond market, a three-part deal for $4 billion in late November that included $1 billion in the sovereign issuer’s first-ever century bond.
(Photo: José Olivares accepts the Sovereign Bond of the Year Award and Local Currency Deal of the Year Award during the LatinFinance 2019 Deals of the Year Awards dinner in New York City.)