Luis Miguel Castilla, former Peruvian minister of economy and finance: “High public discontent in Peru reflects longstanding citizen disenfranchisement with political elites who are perceived as corrupt. Growing concerns with deteriorating living standards reflect lower consumer purchasing capacity due to high imported foodstuff inflation affecting poor households, as well as informal job creation and growing underemployment. GDP contraction during the first half of the year was a result of negative supply shocks, social and political upheaval (temporarily interrupting mining production) and a persistent investor confidence crisis. Better results are expected in the second half, but still the economy will post a disappointing year. Although President Boluarte’s cabinet is a major improvement over its predecessor’s negative policies and incompetent management, the pursuit of a countercyclical expansionary fiscal stimulus has not been effective enough to…”