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Economic Stabilization and Structural Adjustment Under Fujimori

Published online by Cambridge University Press:  02 January 2018

Efraín Gonzales de Olarte
Efraín Gonzales de Olarte*
Affiliation:
Instituto de Estudios Peruanos (IEP), Pontificia Universidad Catόlica del Perύ
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Extract

When Alberto Fujimori campaigned for president of Peru W i n 1990, he ran on a platform in which he promised to institute a moderate program of gradual economic stabilization, including the privatization of certain state-owned enterprises. These promises were instrumental in his scoring an upset victory over writer Mario Vargas Llosa, who had been the odds-on favorite to win just three months earlier — and, thus, to become Peru's third popularly elected president in his country's ten years of continuous democracy.

Nevertheless, soon after Alán García relinquished the presidential office, in July 1990, to the newly-elected president, those election promises underwent a dramatic reversal. On the grounds that he had inherited a bankrupt country which left him no alternative (no habia otra cosa que hacef), the new president moved quickly to establish a stabilization program of classic orthodoxy in August 1990 (Fujimori, 1990).

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 35 , Issue 2 , Summer 1993 , pp. 51 - 80
Copyright
Copyright © University of Miami 1993

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