Peru’s Fujimori Claims Vote Fraud In Presidential Race As Castillo Pulls Ahead

Peruvian markets rebounded from Monday’s losses as the leading presidential candidate sought to reassure investors who were preparing for a drawn-out count of Sunday’s vote.

Benchmark bonds pared more than half of the decline as the leftist Pedro Castillo, who has an 80,000-vote lead with more than 95% of ballots counted, sent a statement saying he would pay the country’s debt and keep central bank independence. The sol and the main stock gauge edged higher. Castillo said in a statement late Monday that if elected his administration would maintain a dialogue with business leaders. He also ruled out nationalizations, the confiscation of savings, and any price, currency, or import controls. He reiterated a need for higher social spending on health care and education.