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LATAM POLITICS TODAY-Peru's mining execs 'lose faith' in leftist government

LATAM POLITICS TODAY-Peru's mining execs 'lose faith' in leftist government

Reuters · 07/27/2022 14:18
LATAM POLITICS TODAY-Peru's mining execs 'lose faith' in leftist government

Bankers, business leaders say Brazil democracy "in grave danger"

Brazil's Lula says he would touch foreign currency reserves

El Salvador's Bukele announces surprise debt buyback

- The latest in Latin American politics today:


Peru's mining execs 'lose faith' in Castillo's government

Peru's mining executives, who oversee some of the world's largest copper mines, say they have lost faith in left-wing President Pedro Castillo, despite his scrapping tax hikes on the industry.

Mining executives interviewed by Reuters said Castillo failed to quell protests at two major copper mines, with the uprisings also delaying mining projects worth $53 billion.

Bankers, business leaders say Brazil democracy 'in grave danger'

Three thousand Brazilian bankers and businessmen have issued a letter in defense of Brazil's electronic voting system, which has been attacked by far-right President Jair Bolsonaro, and warned the country's democracy was in "grave danger."

The manifesto did mention Bolsonaro by , but pointed to issues created by him questioning the voting system ahead of the October election.

Lula says he doesn't want to touch money from foreign currency reserves

Brazil's presidential front-runner Luiz Inacio Lula da Silva said in an interview Wednesday that he would seek to touch money from the country's $343.5 billion foreign exchange reserves if elected.

Reuters reported last week that some of the leftist leader's economic advisers were drafting a plan that would include more market interventions.

Speaking to website UOL, Lula also said that Brazil would a spending ceiling if he were to win a term and that he would call on the European Union to improve the terms of its trade agreement with the South American trade bloc Mercosur.

El Salvador's Bukele announces surprise debt buyback

El Salvador's President Nayib Bukele has announced a plan for a voluntary repurchase offer to debt bondholders from 2023 and 2025.

The Central American leader said on Twitter that the country has enough liquidity only to pay commitments at maturity, but to buy debt in advance.


(Compiled by Isabel Woodford and Brendan O'Boyle; editing by Jonathan Oatis)

((isabel.woodford@tr.com))