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Credit Suisse: Swearing-in of Peru's new President puts end to weeks of political turmoil

Peruvian President Francisco Sagasti. Photo: EFE

15:12 | Lima, Nov. 16.

Credit Suisse on Wednesday affirmed that the swearing-in of Francisco Sagasti as President of the Republic of Peru brings an end to several weeks of political turmoil and is expected to appease the recent protests.

The investment bank highlighted the fact that in his first Address to the Nation,

Mr. Sagasti "noted the importance of improving citizens' confidence toward the country's political class and of overcoming partisan differences."

Regarding the economy, "he said that economic stability and fiscal sustainability will be supported, and that his administration will work to improve the execution of public expenditures."

Credit Suisse also stressed that Mr. Sagasti affirmed that

"his government will uphold complete neutrality regarding the general elections of 11 April 2021, and will guarantee that the electoral process takes place in the best way possible."

As a reference, next year's elected lawmakers and president will take office on 27 July and 28 July, respectively.

"We reiterate our opinion that Mr. Sagasti's track record as a centrist and a technocrat, as well as his strong support in Congress, bodes well for containing the political turmoil in the near-term," it concluded.

As is known, last Tuesday, Credit Suisse affirmed that the appointment of Mr. Sagasti as President of the Republic bodes well for Peru.

Academic profile and experience

Mr. Francisco Sagasti holds a bachelor's degree in Industrial Engineering from the National Engineering University (UNI) in Lima.

He received a Master's Degree in Industrial Engineering from Pennsylvania State University, as well as a PhD in Operational Research and Social Systems Sciences from Wharton School of the University of Pennsylvania, in the United States.

Mr. Sagasti worked at the World Bank, the UN, consulted for government ministries, and participated in several other public policy advisement positions.

(END) NDP/MVB

Published: 11/18/2020

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Credit Suisse: Swearing-in of Peru's new President puts end to weeks of political turmoil

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