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Alan Garcia


Alan Gabriel Ludwig Garcia Perez is the current President of Peru, having won the 2006 elections on June 4, 2006 in a run-off against Union for Peru candidate Ollanta Humala. He is the leader of the APRA and the only party member ever to have served as President of Peru. He served a first term as President from 1985 to 1990. His first term was marked by a severe economic crisis, social unrest and violence. He ran unsuccessfully for the Presidency in 2001, losing in a run-off to Alejandro Toledo.

Garcia won the elections on April 14, 1985 with 45% of the votes. Since he did not receive the 50% of the votes required to win the presidency, Garcia had to enter a run-off against Alfonso Barrantes (former leftist mayor of Lima) of the United Left party. Barrantes, however, retired and decided not to enter the run-off, saying he did not want to prolong the political uncertainty of the country. Garcia was thus declared president on June 1 and officially took power on July 28, 1985. For the first time in its sixty-year history, the APRA party had come to power in Peru. Aged only 36, Garcia was dubbed "Latin America's Kennedy," becoming the region's youngest president at the time.

Despite his initial popularity among Peruvian voters, Garcia's term in office was marked by bouts of hyperinflation, which reached 7,649% in 1990 and had a cumulative total of 2,200,200% over the five years, thereby profoundly destabilizing the Peruvian economy. Owing to such chronic inflation, the Peruvian currency, the sol, was replaced by the Inti in mid-1985, which itself was replaced by the nuevo sol ("new sun") in July 1991, at which time the new sol had a cumulative value of one billion old soles. During Garcia's administration, the per capita annual income of Peruvians fell to $720 (below the level of 1960) and Peru's GDP dropped 20%. By the end of his term, national reserves were a negative $900 million.

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Office of the President of the Republic of Peru

APRA's official site

Latin Business Chronicle

Extended biography by CIDOB Foundation

Peru Election 2006: Alan Garcia

"Exiled Garcia back in Peru"

cverdad.org

Extract from article discussing Garcia's 2006 election victory

Welcome to Washington, Mr. Peruvian President: Alan Garcia Perezs Regional Foreign Policy

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This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article Alan Garcia


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