García Picks Carranza As Finance Minister

Peru’s president-elect, Alan García, has picked Luis Carranza Ugarte as his finance minister when he takes office at the end of this month. Carranza, an economist, served as deputy finance minister under Alejandro Toledo and as a director of the Central Bank. He will join from his current position at Banco Bilbao Vizcaya Argentaria (BBVA) in Spain. García also appointed José Antonio García Belaunde, a career diplomat, as foreign affairs minister.