Peru: President Pedro Pablo resigns

The President of Peru Pedro Pablo Kuczynski has tendered his resignation to the Congress on the eve of a vote on impeachment as he was accused of buying votes. The 79-year old former investment banker was due to have a meeting with US President Trump next month. It is not confirmed if the resignation has been accepted as the Opposition-controlled Congress may decide to pass the impeachment motion against him which will force him from office on the morally unfit basis.

Markets have taken a strong hit upon the news and there are widespread rumours of Vice President Martin Vizcarra will replace him. This will put an end to the political chaos in the country which is known as the biggest copper producer in the world. Opposition Party Popular Force had publically declared the President’s financial connections to the company which was involved in a huge corruption case and had asked for his resignation. The office of the President has however not issued an official statement.

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