President-elect Keiko Fujimori named economist Elmer Cuba as Peru’s next minister of economy and finance on Monday, a day before her inauguration, alongside the announcement that Vice-President Luis Galarreta will serve as prime minister and former presidential candidate Carlos Espá as foreign minister. The appointments, disclosed at a Lima press conference, set the technocratic tone of an administration that takes office amid a decade of political upheaval and the economic disruptions of the El Niño weather pattern.

In his first remarks, Cuba stated that the government would pursue “economic reforms that have been awaited all century” to restore healthy growth, generate employment and increase tax revenues for public investment. He acknowledged that Peru’s record of low inflation and fiscal solvency has not translated into higher wages or improved well-being for much of the population, and pledged to be “implacable” in the use of public funds, with a rigorous anti-corruption drive and a review of congressional legislation that, according to the independent Fiscal Council, threatens the public purse. Viewed from Lima, the choice of a former central bank director and Macroconsult partner is interpreted as a signal of policy continuity in one of Latin America’s most stable economies.

Galarreta, who also leads Fujimori’s Fuerza Popular party, said the cabinet’s priorities would be tackling insecurity, attracting investment and restoring public trust in institutions. The foreign ministry portfolio went to Espá, a former press and culture officer at the US embassy in Lima, a decision that, according to regional diplomatic sources, underscores the importance the new government places on relations with Washington at a time when China remains Peru’s largest trading partner. The inauguration is expected to draw several regional leaders, including the presidents of Argentina, Ecuador, Bolivia and Uruguay, as well as Spain’s King Felipe VI.

Cuba takes office as the central bank has warned that El Niño will continue to weigh on agriculture and fishing, sectors that dragged overall economic activity in May to its weakest expansion this year. The new minister said he would evaluate a possible increase in the minimum wage but made no immediate commitment, while insisting that widening the tax base by combating evasion would be essential to fund infrastructure and social cohesion. The full cabinet is to be sworn in after Tuesday’s transfer of power, with a first council of ministers scheduled for Wednesday morning.