David Tuesta has become the new finance minister in Peru, now that President Martín Vizcarra has restocked the cabinet after taking office on March 23.
Tuesta recently worked as the corporate director of strategic affairs at the Latin American development bank CAF and as the chief economist for BBVA Research. He also sits on a government-appointed committee that has suggested a series of possible reforms to social security, healthcare and unemployment services in Peru.
Tuesta becomes Peru’s fourth finance minister in less than a year, taking charge of an economy that has slowed down. The economy rose 2.5% in 2017, down from 3.9% in 2016 to its lowest annual rate of increase since 2014, according to the national statistics institute.
Alfredo Thorne left his job as finance minister in June 2017, accused of insider dealing to approve a planned airport expansion project. Fernando Zavala replaced Thorne but made way for Claudia Cooper in September 2017. Cooper left her post after former President Pedro Pablo Kuczynski resigned on March 21.
Kuczynski, commonly known as PPK, stepped down after the main opposition party released recordings that implicated his administration in a vote-buying scheme. PPK is Peru’s third president to face corruption charges. PPK’s predecessor, Ollanta Humala, is awaiting trial in jail, while Alejandro Toledo, who was president from 2001 to 2006, is fighting extradition from the United States. Humala and Toledo both deny the charges, which stem from allegedly illegal campaign contributions and bribes from the Brazilian construction company Odebrecht.
Vizcarra promised to combat corruption after his swearing-in ceremony last month. He is set to serve the remainder of PPK’s term in office, which ends in July 2021. Vizcarra has also named César Villanueva as prime minister. Villanueva was prime minister for a year during the Humala administration.
Other new cabinet members include Francisco Ísmodes as energy and mining minister, Rogers Valencia as minister of tourism and foreign trade, Liliana La Rosa as minister of development and social inclusion, Edmer Trujillo as transportation minister and Néstor Popolizio as minister of foreign relations. LF