Peru : Pedro Pablo Kuczynski (PPK)

• Peru’s new president inherits the emerging world’s hottest 2016 stock market.
• Pedro Pablo Kuczynski, better known simply as PPK

3/21/18:  LIMA: Peru’s President Pedro Pablo Kuczynski announced his resignation Wednesday in an address to the nation, the day before he was to face an impeachment vote in Congress.

The 79-year-old former Wall Street banker, under fire over his links to Brazilian construction giant Odebrecht, denied allegations of bribe-taking but said his resignation was “the best thing for the country.”

Kuczynski is the first president to lose his job over the scandal in which the Brazilian company admitted paying out millions of dollars in bribes and gifts to Latin American politicians and businessmen to secure public works contracts.

PPK resigns 21 March 2018

His resignation comes a few weeks before Kuczynski was due to host the Summit of the Americas in Lima, where US President Donald Trump and others leaders of the Western Hemisphere are expected April 13-14.

“Faced with this difficult situation that unfairly makes me appear guilty, I think the best thing for the country is for me to resign the presidency of the republic,” he said in the televised address, which showed him seated at a polished conference table with his cabinet standing grim-faced behind him.
“I do not want to be an obstacle, for the country to continue suffering with the uncertainty of these recent times,” said the president, who survived a previous impeachment vote in December.

The Congress said it would debate the resignation on Thursday and vote on Friday on whether to accept it.

Vice President Martin Vizcarra, who is currently serving as Peru’s ambassador to Canada, is likely to replace Kuczynski to avoid early elections at a time of widespread voter discontent with political parties.

Vizcarra, who is expected in Lima on Thursday, would hold the post until July 2021, when Kuczynski’s mandate was due to end.