Pedro Castillo’s first decisions as president of Peru have scared the markets. The Lima Stock Exchange has fallen more than 6% and the dollar exceeds four soles for the first time in history. Castillo on Thursday named a Marxist politician with a bigotry character as prime minister. His election generated a trail of criticism that culminated in the resignation of Pedro Francke as economy minister, the most solid man in the Castillo government, the one who had reassured companies and embassies about the direction the Peruvian economy was going to take. The combination of both created a black day for investors.

Francke’s fright made the Economy portfolio, the most important position after that of the president, remain vacant. Castillo has also not been able to find at the last minute someone of prestige who would like to occupy the Justice portfolio. The left-wing groups that supported him during the second round have felt…

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