Peru after the swearing in of Pedro Francke and Aníbal Torres as ministers of state in Peru

Comunicado del PCM

Yesterday, July 30, as the new government has become accustomed to us, we witnessed between midnight and without prior notice, the swearing in of Pedro Francke and Aníbal Torres, to the Economy and Finance, and Justice portfolios. This occurred amid the worst economic turmoil in recent years in Peru, with a historical record for the dollar of S / 4.07 despite the efforts of the BCR to stabilize the price, selling 293 million dollars.

The second shakeup occurred in the Stock Market, and not only in the Lima Stock Exchange, which began the session on Friday, July 30 with a fall of -3.03% in the S & P / BVL Peru General Index (the most representative of the mining sector , financial and the stock market in general). But in addition, important companies in the Peruvian mining and financial sector in other world markets fell at the opening of the markets on Friday.

The shares of the Peruvian mining company Hochschild, which is listed on the London Stock Exchange, had a maximum price on Thursday of 165 pounds per share, however, it closed on Friday at 154.20 pounds per share. However, the strongest fall was registered in the shares of Credicorp, a Peruvian company listed on the New York Stock Exchange, which reached a maximum of $ 123.45 per share on Thursday and closed on Friday with $ 100.26 per share, which represents an unprecedented drop for the Peruvian company, which had sustained growth for months and used to having very stable shares in the market.

This economic scenario, perhaps, was one of the reasons why Francke would accept in spite of everything, the appointment in the cabinet.

However, a brush stroke does not change the canvas that has been painted. The appointment of Guido Bellido Ugarte as president of the Council of Ministers (PCM for its acronym in Spanish) is seriously questioned, practically by all the political sectors of the country and by citizens in general. The investigation that was opened in apology for terrorism is followed by public denunciations of misogyny and homophobia. Without considering that the last 10 presidents of the Council of Ministers before him, were all independent and did not belong to any political party, without also considering the experience for the position, since the current head of the PCM has declared work experience only since from 2015 to 2019, of which he has worked only from 2018 to 2019 at the INEI, going from team leader to Local coordinator during that year, according to the informed voting portal.


“For sustained progress towards good living, with equal opportunities, without distinction of gender, ethnic identity or sexual orientation, for democracy and national consensus”, so Pedro Francke swore yesterday, as if giving a clear message of the conditions in which he joins the ministerial team, and in view of the serious questions to the current president of the council of ministers.

This morning, the PCM, through its Twitter account, released a statement that dictates the following:


My deep gratitude to the President of the Republic, Pedro Castillo Terrones, for having given me the confidence to exercise the position of President of the Council of Ministers, a high responsibility that I assumed with honor and humility in front of the people in the Pampa de la Quinua, for the memory of those who offered their lives for the emancipation of Latin America and for the most deprived peoples.

I am writing to the country to ratify my strongest commitment to democracy, governance and human rights. I categorically reject all forms of violence and terrorism in all its extremes. The message given by the President of the Republic on July 28 before the Congress of the Republic and the Peruvian people is the one that will guide my management in the Presidency of the Council of Ministers.

In this regard, I express my firm commitment to full equality of rights. As a Quechua son of peasants, I have experienced discrimination firsthand and I will work to eradicate it in all its forms. Together we will overcome the racism, classism, machismo and homophobia that are still deeply ingrained in society. As President Pedro Castillo said, the Bicentennial of independence must be the time to build a national unity, recognizing and listening to all sectors of the country.

Lima, July 31, 2021

Guido Bellido Ugarte

President of the Council of Ministers


When observing the reactions of Internet users on social networks, this statement will not be enough to silence the questions, since many sectors of society and political sectors ask Guido Bellido to step aside.

On Monday, August 2, at 2 in the morning and at 8 in the morning Peruvian time, the London and New York Stock Exchanges will reopen respectively, and the announcements and the concrete actions that Pedro Francke takes today and tomorrow will deeply depend on prices. of the shares of Peruvian companies, the price of currencies and especially the economic stability of Peru.

Therefore, what happens in the next few days will be of transcendental importance for all Peruvians.

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