Victorious Humala Plans SouthAm Travels

The latest numbers from Peru’s electoral authority confirm that Ollanta Humala maintains his lead over Keiko Fujimori, who conceded defeat on Monday. Humala won 51.465 percent of the votes against Fujimori’s 48.535 percent, with 98 percent of the ballots counted. Several Latin American leaders congratulated Humala on his victory and invited him to visit their countries. Humala begins a tour of South America next Wednesday that will take him to Brazil, Uruguay, Argentina, and Chile, and then the rest of South America. The goal of the trip will be to strengthen bilateral relations with Peru’s regional neighbors and to push agreements aimed at promoting Peru’s development. Humala also says he hopes to visit the United States. 

Humala gave his first sit-down interview since the election to CNN en Español on June 6, in which he proposed allowing recall elections for the president and legislators, as well as reforming the Peruvian Constitution to allow the state to invest public money. He also said that under his administration military figures will only occupy military positions and there will be “zero tolerance for drugs.” He noted that ex-President Alberto Fujimori, currently serving time for corruption and human rights abuses, will only be transferred to an ordinary jail cell if the courts decide to move him. “We don’t want more divergence. We want unity.” 

Peru’s Stock Market Rebounds after Monday’s Steep Drop

The Peruvian stock market continued to recover Wednesday, after ratings agencies said that President-elect Ollanta Humala’s election would not affect the country’s investment-grade status. The Lima General Index plummeted 12.5 percent on Monday—the largest drop since it was created in 1981—and closed early, after conservative Keiko Fujimori conceded defeat to Humala. The Economist Intelligence Unit explores the meaning of the election for Peru’s economy. 

Read an AS/COA Online News Analysis about Humala’s electoral victory.

Ecuador, Venezuela Oppose OPEC Production Increase

The presidents of Ecuador and Venezuela met this week and released a statement arguing against an increase in oil production by the Organization of the Petroleum Exporting Countries (OPEC), of which both countries are members. Their statement came a day before a June 8 summit in Vienna, where OPEC failed to ratify a proposal by Saudi Arabia and three other Persian Gulf countries to raise output.