Overview
- Prime Minister Ernesto Álvarez disclosed that President José Jerí made the request during an Oct. 29 meeting with Velarde and Economy Minister Denisse Miralles focused on economic and monetary stability.
- Miralles said the choice to remain rests with Velarde and noted he is assembling a technical team to succeed him at the Central Reserve Bank of Peru.
- Álvarez indicated the formal determination on Velarde’s continuation will be made by the incoming administration, and Velarde has not commented publicly.
- Officials present the appeal as reassurance for investors as Fitch recently noted vulnerabilities in the executive branch, while analysts caution against perceptions of encroachment on the central bank’s autonomy.
- Velarde has previously identified internal officials Adrián Armas and Paul Castillo as possible successors.