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So far, Peruvians believe Humala represents more populist interests than continuity. They may be very disappointed despite promises to increase taxes and royalties on mining companies to fund social programs, as well as stronger labor rights in a nation having few.
Reuters, in fact, said he's made a concerted effort to "calm foreign investors," saying he'll honor the "independence of the central bank and the legal securiy of contracts signed with private enterprises."
His Gana Peru Party, in fact, advocates joint state, domestic/foreign investment partnerships, Peruvians having majority control. As a result, he promised changes in Peru's 1993 Constitution and reviews of previously negotiated trade agreements, whether or not, he'll defy Western interests by softening agreed on provisions. In fact, he said:
"From the moment these were signed, they cannot be unilaterally questioned or revised, except when specific clauses allowed for in (them) or when flagrant illegality preceded (their) adoption."
Political rhetoric aside, expect a Humala administration to continue most past policies poor Peruvians want changed. Not likely short of massive grassroots pressure forcing him. Even that won't likely work given entrenched interests enforcing status quo harshness backed by Wall Street and Washington, the force targeting all leaders out of step with their agenda.
A Final Comment
A mid-day June 6 Reuters report headlined, "Left-winger Humala wins Peru election, markets plunge," saying:
Humala's vow to share Peru's wealth with its poor sent "financial markets plummet(ing) on fears (he'll) ruin the economy."
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