Mercedes Aráoz is a Peruvian economist and politician who served as the first female Minister of Economy and Finance in Peru. She is best known for her work in international trade negotiations and her tenure as the Second Vice President of Peru. Her career reflects extensive experience in academic economics and high-level government cabinet management.
Economic policy and high-level cabinet management defined the career of Mercedes Aráoz, a Peruvian academic who climbed to the Second Vice Presidency. Emerging from a background in international trade and finance, she became the first woman to lead the Ministry of Economy and Finance in Peru, eventually navigating the complexities of the country's legislative and executive power structures.
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Born on 5 August 1961, in Lima, Aráoz pursued an extensive education in economics. She studied at the Universidad del Pacífico before earning both a Master's degree and a PhD from the University of Miami School of Business. Her intellectual expertise encompasses international economy and trade policy, subjects she later taught at the Diplomatic Academy of Peru and as a principal professor at the Universidad del Pacífico. Her professional experience includes roles with international entities such as the World Bank, the Organization of American States, and the Inter-American Development Bank, where she served as a country representative in Mexico City from 2011 to 2015.
Ministerial Roles under Alan García
Aráoz entered national politics in 2006, appointed as Minister of Foreign Trade and Tourism. During this period, she negotiated numerous trade agreements with partners including China, Canada, Japan, and the European Union. In 2009, she transitioned briefly to lead the Ministry of Production before becoming the Minister of Economy and Finance. In this senior capacity, she focused on infrastructure investment and maintained national economic stability amidst the global financial crisis of 2008. Although she was nominated for the presidency in 2011 by the American Popular Revolutionary Alliance, she withdrew her candidacy following internal party disagreements.
Vice Presidency and Constitutional Crisis
In 2016, Aráoz secured election as Second Vice President of Peru on the ticket with Pedro Pablo Kuczynski. Concurrently, she served as a member of the Congress of the Republic. She took the office of President of the Council of Ministers in September 2017, serving until April 2018. The following year, during a period of significant domestic instability, Congress attempted to name her interim president after the dissolution of the legislature and the suspension of Martín Vizcarra. She declined this appointment in October 2019, ultimately resigning from her vice-presidential position in May 2020.
Fast facts
- Born: 5 August 1961, Lima
- First female Minister of Economy and Finance of Peru
- Served as Minister of Foreign Trade and Tourism (2006-2009)
- Second Vice President of Peru (2016-2020)
- President of the Council of Ministers (2017-2018)
- Member of the Congress of the Republic of Peru (2016-2019)
- Education: PhD in economics, University of Miami
- Religious affiliation: Catholicism
Questions readers ask
Did Mercedes Aráoz serve as a cabinet minister?
Yes, she held three separate ministerial portfolios between 2006 and 2010: Foreign Trade and Tourism, Production, and Economy and Finance.
Was she ever the President of Peru?
No. While she was named interim president by Congress during the 2019 constitutional crisis, she declined the appointment and the move lacked broad recognition.
