New leader of Peru vows to spread wealth

Left-wing former army commander Ollanta Humala won Peru's presidential election yesterday and vowed the poor will share in the country's new wealth.

Mr Humala claimed victory and results from 89 per cent of ballot boxes gave him a lead of more than 2.7 percentage points over right-wing MP Keiko Fujimori, the daughter of jailed former president Alberto Fujimori.

Investors worry that Mr Humala, who takes office on 28 July, will increase state control over the fast-growing economy and throw away fiscal discipline.

Peru is a major metals exporter and one of the world's fastest-growing economies over the past decade, but a third of its people are stuck in poverty and Mr Humala has promised to spread the benefits of the boom.

"We want economic growth with social inclusion," Mr Humala, 48, told thousands of cheering supporters at a rally in Lima.