Peru's Pedro Castillo appointed moderate economist Pedro Francke as finance minister late on Friday, an olive branch to rattled markets after the newly-elected president earlier named members of his Marxist Free Peru party to several other cabinet positions.
Peru's newly appointed hard-left prime minister sought to soothe worried markets on Friday after President Pedro Castillo named members of his Marxist Free Peru party to key cabinet posts, sending both bond markets and the country's currency tumbling.
Peru was mired in uncertainty on Friday as bonds tumbled and the local currency weakened after newly-elected Socialist President Pedro Castillo appointed hard-left Marxist as prime minister while the key post of finance minister remained vacant. Guido Bellido was named prime minister, dimming hopes of a moderate administration.
Peru's sol hit record lows and dollar
bonds fell on Friday after newly elected President Pedro
Castillo appointed a far-left prime minister but did not name a
finance minister, while the Mexican ...
Brazil's public finances improved in June, figures showed on Friday, as fiscal consolidation following last year's crisis-fighting largesse and stronger growth pushed debt and the deficit as a share of the economy to the lowest in a year.
Brazil's government debt as a share of gross domestic product fell in June to 84.0% from 84.6% in May - the lowest in a year - and the public sector posted a primary deficit of 65.5 billion reais, the central bank said on Friday.
Brazil's unemployment rate dipped slightly to 14.6% in the three months to May, figures showed on Friday, but that was higher than economists had expected and the second highest since comparable records began almost a decade ago. The official unemployment rate edged down from 14.7% in April and March, statistics agency IBGE said, the highest level since its series began in 2012.
Mexico's economy bounced back to annual growth in the second quarter, boosted by services and manufacturing for export to the United States, its top trade partner, a preliminary estimate from the national statistics agency showed on Friday.
Peru's currency tumbled to a record low on its largest daily decline in over seven years after President Pedro Castillo appointed a member of his Marxist party as prime minister and did not yet name a finance minister, leaving the direction of policy and the economy uncertain.
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