Peru names new finance minister with ties to International Monetary Fund

[Judi Lynn]

Peru names new finance minister with ties to International Monetary Fund

July 13, 2008 12:21 PM

LIMA, Peru (AP) - A career economist from the International Monetary Fund is taking over as Peru's finance minister.
The president's office says Luis Valdivieso will be sworn in Monday to replace Luis Carranza. Valdivieso is a nearly 30-year veteran of the Washington-based IMF.

Under Carranza's tenure, Peru saw its foreign debt rating rise to investment grade, in a major endorsement of President Alan Garcia's market-friendly policies. Few major changes are expected under Valdivieso.

Carranza says he stepped down for family and personal reasons and not because of any policy differences with the administration.

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