Bourse De Fret

Peru's election: deeply polarised

Whoever wins Peru’s deadlocked presidential race on June 5 will have to move fast to keep political polarisation from derailing the country’s economic growth.

The final three opinion polls published one week before the vote found congresswoman Keiko Fujimori, 36, and retired military officer Ollanta Humala, 48, in a statistical tie. She leads among women, urbanites and young voters, while he leads among men, rural dwellers and older voters. Nearly 40 per cent of voters said they would never vote for her; the same percentage said they would never vote for him. Around 14 per cent of voters plan to spoil their ballots.

Fujimori has to convince those voting against her that she is not her father, former president Alberto Fujimori (1990-2000). He is in prison, serving concurrent sentences fro convictions involving corruption and human rights violations. The longest sentence is 25 years.

She denies in interviews that he is running the show. “I head the congressional delegation, I chose my team and I wrote the government platform. Alberto Fujimori is in prison and has to concentrate on his legal problems,” she said. She said in a televised debate May 29 with Humala that her father’s legacy is a heavy cross to bear and she would not do the same thing to her two young daughters.

Her congressional list and team, however, is heavy with people from her father’s administration. One of her vice presidential candidates headed several Cabinet ministries in the 1990s and her top advisers were also ministers. Most of the high-profile lawmakers elected on her ticket in April are also throwbacks to her father’s time. A return to the “kleptocracy” – as Transparency International called it – of the Fujimori regime of the 1990s is unlikely, but the memory of billions of dollars pilfered from the treasury remains fresh.

Humala needs to convince his detractors, including the majority of Peru’s media and the leading business organizations, that he is not a clone of Hugo Chávez, Venezuela’s president. He has been trying to break the Chávez tie throughout the campaign, but doubts linger. The fear expressed by middle-class voters in interviews, blogs and Twitter traffic is palpable, even if irrational. They fret about Humala confiscating houses, closing private schools and implanting “21st century socialism” in Peru.

Peru’s stock market responded negatively on Monday to the final polls and presidential debate the previous night, which did not provide any new definition in the race. The stock market fell 5.2 percent, with the president of the bourse saying the drop was a result of the deadlocked polls.

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