Political instability is showing no signs of abating in Peru
and the economic cost is rising. The protest which
began in december after the impeachment of former President Pedro
Castillo have cost the country between 60 and$100 million
per day. That's equivalent to 2% of Peru's GDP
. Since the protests began, protesters are calling for
the immediate resignation of interim president pena boulevard for new
general elections to be called as soon as possible and
for a on whether to rewrite Peru's market friendly constitution
blockades of roads and airports by anti government protesters across
the country have forced companies to scale down or completely
hold operations due to difficulties, bringing in supplies and
taking products out to ports. Peru, the world's
number two copper supplier has lost$160 million of copper
production Since the protests began. Meanwhile, the country's
Agricultural Association estimates the protests have led to$300 million
dollars in lost farm exports, hurting producers of grapes
, blueberries and asparagus among other products economically. These
are the worst protests has seen in several decades.
It has disrupted three of the key industries of the
country which are mining, agribusiness And tourism. It
has led to the shutdown of a couple of mines
and to the slowdown of others, airports have been
shuttered. In response, the government announced a$1.55
billion dollar plan to manage the economic impact of the
unrest. The plan includes the expansion of welfare provisions
, as well as public works and investment in mining
and agriculture. The government needs to find a social
solution that will lead to the blocking of the roads
and the end of the protests. And this government
in eight weeks has not been able to find a
compromise with protesters. And Tina boulevard has said that
she will not resign, but she has also not
proposed any alternative that has so far a piece to
the protests. So we are in in sort of
a standstill where there's no obvious solution to what is
going on.