Peru presiden Ollanta Humala

Business slowly accepts president as early fears of an authoritarian approach seem to fade away.

Ollanta Humala admits he sometimes looks in the mirror and cannot believe he is president. Members of the exclusive Club Nacional, styled on the English gentleman’s model and situated a few hundred metres from the presidential palace in central Lima, feel the same way. It has been less

It has been less than four months since Mr Humala, a former army officer with no government experience, unexpectedly won the June 5 run-off. His narrow victory over centre- right candidate Keiko Fujimori, the daughter of a former president, sparked a record sell-off on the Lima stock exchange.

Since then, Mr Humala has dispelled many of the concerns held by investors – including the buttoneddown businessmen lunching in the Club Nacional’s chandeliered dining rooms. “There is a mood of cautious optimism,” admits one.

Even by Latin American standards, it has been a remarkably volatile year in Peru. It is the world’s second-biggest producer of copper, silver and zinc, and one of the globe’s fastestgrowing  conomies,having trebled in size since 2000.

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(c) Financial Times