Hello, and welcome to the Latin America Weekly newsletter! In this issue: A raid against President Dina Boluarte of Peru. Paraguay is bucking the trend with strong GDP growth figures. And the burst of the lithium price bubble could damage regional exporting hopes.
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Peru: Will Rolexgate be the nail in Dina Boularte’s coffin?
Peru’s presidential palace and President Dina Boluarte’s personal residency were raided by dozens of security agents this weekend as they searched for undeclared luxury watches.
👉 Why it matters. The raids are part of preliminary investigations against Ms. Boluarte. Prosecutors are trying to determine whether the Peruvian leader hid Rolexes (costing up to USD 14,000 each) from her assets.
Rolexgate. The scandal started in March. Reports from local news program La Encerrona showed Ms. Boluarte wearing different luxury models around her wrist during several public events over the last few years.
- The report, which analyzed over 10,000 pictures, argued that the watches seemingly became fancier after December 2022, when the then-VP was sworn in as president following...