Peru: President Balcazar praises Julio Velarde's role at BCR, announces talks with him

Photo: ANDINA

Photo: ANDINA

13:06 | Lima, Feb. 19.

The President of the Republic, Jose Maria Balcazar, on Thursday praised Julio Velarde's performance as Central Reserve Bank (BCR) Governor and said he will hold talks with the official, whom he described as a benchmark in monetary management.

"(Dialogue) is necessary because Velarde is a strong benchmark, not only in managing the country's currency but internationally as well," Balcazar told Radio Nacional.

The newly sworn-in Head of State noted that Velarde is a positive figure who can provide ideas on how the country should be run.

"Let him give us the ideas he has regarding the country we all want," Balcazar said.

Regarding Velarde's continuity in office, the President clarified he has not made any decision on his reappointment.

He indicated that any determination on the matter will be the result of dialogue.

"I will first speak with Mr. Velarde; dialogue is necessary," the top official pointed out.

"He (Velarde) is an official in charge at the Central Bank, and what needs to be done is to talk with him to see what his ideas are regarding the country's monetary and financial management," Balcazar added.

On the ministerial Cabinet, the top dignitary said there are still no names defined for the Presidency of the Council of Ministers and that he will first assess the continuity of current ministers, prioritizing technical capacity and willingness to collaborate with his administration.

"We will seek strong technical professionals to move forward with immediate solutions," he emphasized.

Dialogue with all parliamentary blocs and institutions

The Head of State emphasized that he is an independent president.

Likewise, the top official guaranteed that he will coordinate with all parliamentary blocs, not with any single group.

Balcazar added that this dialogue will extend to other institutions, including the Judiciary and the Public Ministry (Prosecutor's Office), among others.

"We will in no way show bias… There is no such tendency here," he concluded.

(END) KCO/CVC/MVB

Published: 2/19/2026