06 June 2011

PERU: Humala Declares Victory; Market Resumes Roller Coaster Performance...Down 12%...Before Trading Halted; Econ. Team Examined.

LATIMES/ T. Wilkinson / good quotes

   With a result that's already shaken Peru's market, ex-military colonel leftist Ollanta Humala claimed victory over conservative Keiko Fujimori.
   With 98% of the vote counted, Humala (above) told a Lima crowd: "We've won the election.We will form a democratic government open to civil society."
    Humala garnered about 51.4% of the vote...while Fujimori had 48.6%.
    Many apparently believed Fujimori was just a proxy for her father, currently serving 25-years for corruption and human rights abuses during his 1990s authoritarian regime.
   "It is a question of dignity," said a retired bank employee who supported Humala."We cannot permit the child of a murderer and thief, who is serving time in jail, to become president."
    But a Keiko supporter said of Humala: "I don't believe in such sudden change. His 40 years of formation tells us he is not a democrat."

AND:  By mid-day, stockholders had sold off shares on Lima's exchange...down 12%...declining the most
in recorded history...before trading was halted.
   The Sol sank 0.8 percent to 2.7860 per usd.
   Foreign investors had announced plans to spend more than $40 bn usd in the next decade to extract gold, silver and copper from Peru.
   http://www.bloomberg.com/news/2011-06-06/peru-s-dollar-bonds-sink-as-humala-election-lead-spurs-concern-on-economy.html 

REUTERS :  On some of Humala's key advisers: eg, Felix Jimenez, Oscar Dancourt, Kurt Burneo, et al.
http://www.reuters.com/article/2011/06/06/us-peru-elections-whoswho-idUSTRE7554VQ20110606

 TO SEE: EURONEWS 1:23 ENGLISH report...on election:
http://www.youtube.com/watch?v=GdvvEPCYmUY&feature=feedu