Reported 5 months ago
Peru's Central Bank President Julio Velarde and Finance Minister Jose Arista are in disagreement over the country's weak economy. Velarde criticized Arista for not being proactive in reducing interest rates, while Arista countered by stating that the rate cuts implemented by the central bank are not sufficient to stimulate the economy. Velarde, who has been in his position for 18 years, is admired for his role in maintaining economic stability, although he faced criticism last year for overly optimistic economic growth projections. The confrontation reflects the challenges facing Peru's economy, including a recession and political turmoil under President Dina Boluarte.
Source: YAHOO