December 21, 2017 / 2:30 PM / a year ago

Peru's sol drops after Kuczynski ups stakes in political crisis

LIMA, Dec 21 (Reuters) - Peru’s sol currency opened 0.34 percent weaker against the dollar on Thursday after President Pedro Pablo Kuczynski signaled his government would trigger fresh general elections if Congress ousts him in a vote.

The rightwing populist party that controls Congress hopes to remove Kuczynski from office with a motion on Thursday on grounds he is “morally unfit” to govern, after finding he once had business connections with a company at the center of Latin America’s biggest graft scandal.

Many of Kuczynski’s supporters favor forcing new elections to punish lawmakers if they oust him. But investors worry anti-establishment candidates would be swept into power in a fresh ballot as a graft scandal roils the country. (Reporting By Teresa Cespedes, Writing By Mitra Taj Editing by Chizu Nomiyama)

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