Stashing cash, Peru's urban elite panics as a socialist looks set to clinch presidency [View all]

[Judi Lynn]

June 15, 2021
5:06 AM CDT
Last Updated 6 hours ago
Americas
Marcelo Rochabrun

5 minute read

LIMA, June 15 (Reuters) - In Peruvian capital Lima, fear is spreading among the city’s small but powerful urban elite about the likely election win of a little-known socialist teacher.

Pedro Castillo is poised to be named president ahead of conservative rival Keiko Fujimori. With almost all votes tallied, Castillo's lead over Fujimori is narrow but looks to be enough, though the final result could take days or even weeks as legal challenges play out.

During campaigning, Castillo pledged to sharply hike taxes on mining in the world's no. 2 copper producer to pay for social spending and redraft the constitution to give the government more muscle in running the economy. He has also hinted at potential land reforms.

Fujimori's conservatives were quick to play up fears about the rise of "communism" and to stir up old ghosts of land grabs and a Venezuela-style collapse. Lit-up signs appeared in the capital warning, "Think about your future, say no to communism." They did not mention Castillo by name and no-one has claimed responsibility.

. . .

"It's collective hysteria," said Ramiro Llona, a prominent artist who been critical of Fujimori, the daughter of divisive former President Alberto Fujimori. Llona said that fear and bias was driving some of the push-back against Castillo, the son of peasant farmers from Peru's rural north.

"I strongly belief that there is a component of racism at play here... fear that a person from the Andes might win."

More:
https://www.reuters.com/world/americas/stashing-cash-perus-urban-elite-panics-socialist-looks-set-clinch-presidency-2021-06-15/