‘It's a joke': Peruvians outraged after president doubles her salary
LIMA, July 3 - Peruvian President Dina Boluarte will double her salary to the equivalent of some US$10,000 per month, angering many Peruvians who said the money would be better spent on alleviating poverty.
The economy minister announced late on Wednesday that the salary of Boluarte - whose approval ratings are among the lowest of any leader worldwide - had been increased to 35,568 soles ($10,067), about 30 times higher than Peru's minimum wage.
The president's salary had previously been fixed at 15,600 soles ($4,400), a level introduced in 2006 when former President Alan Garcia reduced it from 42,000 soles.
The minister said the salary hike had already been approved by the cabinet and should come into effect immediately. The government justified the increase by saying that compared with 12 counterparts across Latin America, her prior pay ranked 11th, above only that of the Bolivian president.
Reuters could not determine the accuracy of the government's ranking, but an evaluation by the Rio Times last year showed Latin American presidents' salaries ranging between $3,000 and $22,000, averaging at around $9,600.
However, Peruvians that Reuters spoke to were not impressed.
'It's a joke,' pensioner Rolando Fonseca said outside a newspaper stand in the capital Lima. 'There is extreme poverty all over Peru and the president needs to set an example.'
Peru's economy has rebounded over the past two years, following a recession triggered by anti-government protests early in Boluarte's term. However, poverty rates, which worsened during the COVID-19 pandemic, remain close to 30%.
Boluarte is set to finish her term in July 2026, after presidential elections scheduled for next April.
'She is about to leave and there is no need for her to increase her salary, she should be helping hospitals and sick children,' said Carmen Juarez, a Lima housewife.
Boluarte came to power in late 2022 after her predecessor Pedro Castillo was removed and arrested after attempting to dissolve Congress. Her approval ratings hover around 2% to 4%, according to recent polls by Datum and Ipsos Peru.
She has faced accusations of corruption, including allegations of illicit enrichment involving Rolex watches. She was also investigated over her role in overseeing the police and military reaction to the anti-government protests, in which over 50 people died.
Boluarte, 63, denies any wrongdoing.
Repeated efforts to impeach Boluarte have been stymied by conservative political parties that support her. Peru has had six presidents since 2018, and three are currently behind bars.
Opposition lawmaker Jaime Quito said he plans to promote an initiative in Congress to annul the pay rise.
'This is a mockery to a country that is facing such serious problems,' he said.
(Reporting by Marco Aquino; Writing by Sarah Morland; Editing by Rosalba O'Brien)
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CTV News
a day ago
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‘It's a joke': Peruvians outraged after president doubles her salary
A protester holds a photo of Peru's President Dina Boluarte marked with the Spanish word for corrupt during a march to demand the government provide security against the rising violence in Lima, Peru, Friday, March 21, 2025. (AP Photo/Guadalupe Pardo) LIMA, July 3 - Peruvian President Dina Boluarte will double her salary to the equivalent of some US$10,000 per month, angering many Peruvians who said the money would be better spent on alleviating poverty. The economy minister announced late on Wednesday that the salary of Boluarte - whose approval ratings are among the lowest of any leader worldwide - had been increased to 35,568 soles ($10,067), about 30 times higher than Peru's minimum wage. The president's salary had previously been fixed at 15,600 soles ($4,400), a level introduced in 2006 when former President Alan Garcia reduced it from 42,000 soles. The minister said the salary hike had already been approved by the cabinet and should come into effect immediately. The government justified the increase by saying that compared with 12 counterparts across Latin America, her prior pay ranked 11th, above only that of the Bolivian president. Reuters could not determine the accuracy of the government's ranking, but an evaluation by the Rio Times last year showed Latin American presidents' salaries ranging between $3,000 and $22,000, averaging at around $9,600. However, Peruvians that Reuters spoke to were not impressed. 'It's a joke,' pensioner Rolando Fonseca said outside a newspaper stand in the capital Lima. 'There is extreme poverty all over Peru and the president needs to set an example.' Peru's economy has rebounded over the past two years, following a recession triggered by anti-government protests early in Boluarte's term. However, poverty rates, which worsened during the COVID-19 pandemic, remain close to 30%. Boluarte is set to finish her term in July 2026, after presidential elections scheduled for next April. 'She is about to leave and there is no need for her to increase her salary, she should be helping hospitals and sick children,' said Carmen Juarez, a Lima housewife. Boluarte came to power in late 2022 after her predecessor Pedro Castillo was removed and arrested after attempting to dissolve Congress. Her approval ratings hover around 2% to 4%, according to recent polls by Datum and Ipsos Peru. She has faced accusations of corruption, including allegations of illicit enrichment involving Rolex watches. She was also investigated over her role in overseeing the police and military reaction to the anti-government protests, in which over 50 people died. Boluarte, 63, denies any wrongdoing. Repeated efforts to impeach Boluarte have been stymied by conservative political parties that support her. Peru has had six presidents since 2018, and three are currently behind bars. Opposition lawmaker Jaime Quito said he plans to promote an initiative in Congress to annul the pay rise. 'This is a mockery to a country that is facing such serious problems,' he said. (Reporting by Marco Aquino; Writing by Sarah Morland; Editing by Rosalba O'Brien)
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Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") today announced, at the request of the Canadian Investment Regulatory Organization ("CIRO"), clarification to its news release dated July 2, 2025 (the "Original News Release") announcing field logging and interpretation results from the first diamond drill hole completed to target depth, SG017, as part of its ongoing 2,000-meter ("m") drill program at the Company's 100%-owned Santas Gloria Project ("Santas Gloria" or the "Project"), located approximately 55 kilometres east of Lima, Peru. This news release restates the disclosure contained in the Original News Release but removes any visual percentage estimates from core logging of mineralization contained therein. Key Point Summary Drill hole SG017 at the San Jorge Vein ("San Jorge") intercepted a broad zone of sulphide-mineralized hydrothermal breccia from 136.60 to 194.20 m (57.60 m drilled width), characterized by strong silicification, argillic alteration and local sericitic alteration. Sulphide mineralization is present throughout the interval, with pyrite accompanied by local galena, sphalerite, barite and tetrahedrite. Sulphidic mineralization intensifies from 162.00 m, with occurrences of galena and sphalerite, along with barite and tetrahedrite crystals associated with quartz veins. The most intense brecciation occurs from 147.00 to 179.80 m, where the breccia features a strongly argillic altered matrix, silicified clasts, and mineralized veins with pyrite, galena, and sphalerite. A semi-massive interval of galena mineralization up to approximately 15 centimeters ("cm") in width was intercepted at 179.90 m which included pyrite and barite, as well as locally euhedral sphalerite crystals. Field observations and logging from SG017 confirm the presence of a robust, polymetallic-mineralized intermediate sulphidation hydrothermal system at depth, which remains open in all directions. The program's first hole, SG016, did not reach target depth after intercepting a void at 77.00 m, with alteration and mineralization commencing at 74.70 m, suggesting the onset of the epithermal zone - four samples totalling 2.60 m were submitted for assay. The void was likely the result of small scale artisanal miners stoping a near-surface mineralized vein. A total of 50 HQ-diameter core samples (half-core) totalling 43.00 m were collected and submitted from drill hole SG017 to Alfred H. Knight Group ("AHK Group") laboratory in Lima, Peru for assay, with initial results expected in 3 to 4 weeks. "The intersection of a broad, sulphide-rich hydrothermal breccia in SG017 marks a significant breakthrough in the geological model at Santas Gloria," stated Colin Smith, CEO and Director of First Andes Silver."The intensity of hydrothermal alteration, the presence of semi-massive galena and sphalerite, and the occurrence of pervasive polymetallic sulphide mineralization all suggest that vectoring into the core of a well-preserved, fertile sulphide system. With a vertical intercept depth of 125 and 170 meters, this drill test represents the deepest recorded intersection of epithermal mineralization in the Project's history. These results further underscore the scale and continuity of the San Jorge system, and we look forward to receiving assay results to evaluate the grade profile of this promising, open-ended mineralized zone." Drill Hole SG017 Drill hole SG017, completed at the San Jorge Vein target within the Santas Gloria Project, intersected a substantial zone of sulphide-bearing hydrothermal breccia between 136.60 and 194.20 m downhole. This mineralized interval is characterized by intense hydrothermal alteration, including pervasive silicification and argillic overprinting, with localized zones of sericitic alteration, indicative of a high-temperature fluid regime and fully-intact intermediate sulphidation epithermal system. Sulphide mineralization is present throughout the breccia, with pyrite as the dominant phase. Accompanying the pyrite are variable but notable occurrences of galena, sphalerite, barite, and tetrahedrite. From approximately 162.00 metres, the intensity of sulphidic mineral increases, with galena and sphalerite alongside barite and tetrahedrite crystals commonly observed within quartz veinlets. The most texturally intense brecciation spans a core interval from 147.00 to 179.80 m, marked by a strongly argillic matrix, angular clasts exhibiting silica replacement, and a network of mineralized veinlets hosting pyrite, galena, and sphalerite. At 179.90 m, the hole intercepted a semi-massive interval with galena up to 15 centimetres wide, featuring pyrite and barite, along with locally euhedral crystals of sphalerite - a visually impressive and geologically significant zone. Geological logging and field interpretation confirm that SG017 has intersected a robust, multiphase polymetallic hydrothermal system at depth which remains open in all directions, highlighting a strong potential for further expansion in subsequent drilling. Figure 1: Plan map of ongoing 2025 drill program at San Jorge. To view an enhanced version of this graphic, please visit: Figure 2: Cross section of SG017. To view an enhanced version of this graphic, please visit: Table 1: SG017 zone description and core photographs (136.60 to 194.20 m). Depth (m) Core Photo Description Box # 51 From 136.60 To 139.20 To view an enhanced version of this graphic, please visit: -137.40 m: sericitic alteration in the rock, with pyrite ("Py") Box # 52 From 139.10 To 141.60 To view an enhanced version of this graphic, please visit: -139.70 m: Py identified with an increase silicification -149.70 m: oxidization and silicification increases Box # 53 From 141.60 To 144..30 To view an enhanced version of this graphic, please visit: -142.90 m: increase of Py mineralization Box # 54 From 144.30 To 147.00 To view an enhanced version of this graphic, please visit: -146.20 m: oxidization increases again, Py mineralization remains Box # 55 From 147.00 To 149.70 To view an enhanced version of this graphic, please visit: -147.60 m: brecciation with argillic and silicic alteration -148.70 m: brecciation ends with Py mineralization Box # 56 From 149.70 To 152.45 To view an enhanced version of this graphic, please visit: -150.35 m: fractures with sericite and sphalerite ("Sph") Box # 57 From 152.45 To 155.20 To view an enhanced version of this graphic, please visit: -153.60 m: oxidized breccia, 50° core axis with argilized matrix and silicified clasts (Py in the clasts) -154.70 m: vein filed with sulphides, Py and quartz ("Qtz") Box # 58 From 155.20 To 158.00 To view an enhanced version of this graphic, please visit: The matrix is argilized and the clasts silicified. Py in the clasts. Box # 59 From 158.00 To 160.80 To view an enhanced version of this graphic, please visit: The matrix is argilized and the clasts silicified. Py in the clasts. Box # 60 From 160.80 To 163.40 To view an enhanced version of this graphic, please visit: -162.15 m: The breccia ends, dacite light gray, silicificated, still with Py -162.50 m: Py continues to be present -163.25 m: oxidized zone, medium argillic alteration Box # 61 From 163.40 To 166.30 To view an enhanced version of this graphic, please visit: -163.68 m: silicified rock and gray color again, Py continues to be present -166.00 m: breccia texture with Qtz veins Box # 62 From 166.30 To 169.10 To view an enhanced version of this graphic, please visit: -167.10 m: Py, galena ("Gal"), Sph -168.05 m: Py, Sph with argillic alteration Box # 63 From 169.10 To 171.75 To view an enhanced version of this graphic, please visit: Breccia starts with Qtz vein. Py, Sph with argillic alteration Box # 64 From 171.75 To 174.45 To view an enhanced version of this graphic, please visit: -173.80 m: Gal disseminated in the Qtz vein, barite and tetrahedrite crystals present Box # 65 From 174.45 To 176.95 To view an enhanced version of this graphic, please visit: -175.10 m: argillic alteration with Py, Gal and Sph -176.86 m: vein filled with sulphides, Py, Gal, Sph Box # 66 From 176.95 To 179.50 To view an enhanced version of this graphic, please visit: -178.50 m: Py in the matrix, Sph -179.20 m: Qtz vein forming cavities with Py, Gal and barite Box # 67 From 179.50 To 182.20 To view an enhanced version of this graphic, please visit: -179.90 m: vein with Gal, Sph crystal, Py and barite. 2-3 cm of thickness and 15 cm of length -180.20 m: The breccia ends at 30° core axes. Start footwall rock with Py Box # 72 From 192.60 To 194.20 To view an enhanced version of this graphic, please visit: -193.60 m: Qtz vein with sulphides and Py and gal traces, entering footwall sequence Some core intervals were strongly oxidized and represents a supergene effect, whereby surficial groundwaters percolate down structures, resulting in oxidation of sulphides. Intermediate sulphidation epithermal deposits are mined throughout central Peru, and have demonstrated vertical extents in excess of 600 metres. Deeper drilling at Santas Glorias should encounter sulphide only mineralization. Quality Assurance / Quality Control ("QA/QC") The Company follows industry-recognized standards of Best Practice and QA/QC. HQ-diameter core samples are sawed into equal halves, and selected ½ core samples are submitted to AHK Group in in Lima, Peru, a market-leading provider of inspection and analysis services which maintains rigorous quality standards through compliance with industry standards and regulations, including ISO/IEC 17025 and ISO 9001. Core samples are sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%. Qualified Person Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Dr. Wilson is not independent and serves as Chief Geologist of First Andes Silver Ltd. and owns securities of the Company. About First Andes Silver Ltd. First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025. Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
