Peru’s Castillo assumes presidency, pledging economic stability
LIMA, July 28 (Reuters) – Pedro Castillo on Wednesday vowed to tackle what he said were persistent social divisions in Peru that dated back to colonial days as he was sworn in as the country’s president, but pledged he would make no radical changes to the economy.
In a speech shortly after he was inaugurated, Castillo, sporting his trademark wide-brimmed hat, struck a conciliatory tone for investors, saying he wanted the state-owned bank to compete with private lenders but that he would maintain economic “order and predictability.”
Castillo was elected in last month’s vote as a representative of a Marxist party, shaking the political elite and worrying companies fearful of his plans to hike taxes on mining to fund health and education reforms in the world’s second-largest copper producer.
He reassured them on Wednesday there was “not the remotest” plan to nationalize industry but said he would seek “a new pact” with private investors.
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