President of Peru unveils investment plans for the remaining term in office
Peruvian President Dina Boluarte is currently facing a barrage of allegations, including human rights violations, corruption claims, and political controversy. These accusations have contributed to her extremely low approval ratings and ongoing mass protests demanding her resignation or prosecution.
Human Rights Violations
Allegations against President Boluarte include responsibility for the violent repression of protests that left more than 50 people dead following her rise to power in December 2022. Critics view her as responsible for brutality during these protests, for which she faces substantial public denunciation and fears of future prosecution for crimes against humanity.
Corruption Claims
In addition to human rights concerns, Boluarte is embroiled in several corruption-related investigations. One such investigation, known as "Rolexgate," involves allegations that she failed to declare luxury gifts such as jewels and watches. She is reportedly the subject of about a dozen probes tied to allegations of mismanagement and potential corruption.
Political Context
Politically, Boluarte is seen as aligned with right-wing and far-right factions, particularly those allied with the Fujimori political forces. This alignment extends to support for laws perceived as protecting officials from accountability, possibly motivated by her own concerns about facing prosecution once out of office.
Public Controversy
Boluarte has also drawn criticism for doubling her presidential salary to approximately $10,000 USD per month amid a deep insecurity crisis and very low public approval (around 2-3%). This move is seen as poorly timed and out of touch with the country's social and political climate.
Despite these allegations, President Boluarte denies all charges against her.
Mining, Infrastructure, and Energy Projects
Amidst the controversy, President Boluarte announced a series of mining, infrastructure, and energy projects and investments for the final year of her term. Construction is expected to begin on projects worth $4.7 billion by 2026, including the Zafranal copper project by Canadian miner Teck and Japanese company Mitsubishi Materials, and the Pampa de Pongo iron ore project by Chinese firm Jinzhao Mining.
Future Elections
Peru will hold presidential and legislative elections in April 2026. The government has also announced the exclusion of a formalization scheme for over 50,000 small-scale informal miners, leaving only 31,000 small-scale miners to complete their regulation process by the end of the year. Additionally, an additional 10 public investment projects worth an additional $10.2 billion will be left for the next government.
President Boluarte plans to award 48 public investment projects worth over $9.1 billion next year. Despite these projects, the future of President Boluarte's tenure remains uncertain as she continues to face numerous allegations and widespread public disapproval.
[1] Human Rights Watch. (2023). Peru: Investigate Killings during Protests. [online] Available at: https://www.hrw.org/news/2023/03/02/peru-investigate-killings-during-protests [2] The Washington Post. (2023). Peru's president faces calls to resign amid protests over ouster of her predecessor. [online] Available at: https://www.washingtonpost.com/world/the_americas/2023/01/11/perus-president-faces-calls-to-resign-amid-protests-over-ouster-of-her-predecessor/ [3] Reuters. (2023). Peru's Boluarte defends herself against corruption allegations. [online] Available at: https://www.reuters.com/world/americas/perus-boluarte-defends-herself-against-corruption-allegations-2023-03-01/ [4] The New York Times. (2023). Peru's President, Under Fire, Makes a Stand. [online] Available at: https://www.nytimes.com/2023/02/02/world/americas/peru-boluarte-protests.html
- Despite ongoing allegations of human rights violations, corruption, and political controversy, President Boluarte's administration has proposed a series of large-scale mining, infrastructure, and energy projects, worth over $14 billion, for the next few years.
- Amidst the intensifying scrutiny and public demands for her resignation, President Boluarte has also been a subject of numerous investigations related to corruption, including the 'Rolexgate' scandal, and is reportedly under a dozen probes.
- With over 50,000 informal miners excluded from formalization, leaving only 31,000 to complete regulation, there is growing concern about the future of mining in Peru, already a hub for industries like casino-and-gambling and casino-personalities.
- As politicians and the public discuss policy-and-legislation relating to crime-and-justice, it becomes increasingly important to address the ongoing controversies surrounding President Boluarte's administration, especially with the upcoming general-news event – the presidential and legislative elections in April 2026.
