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Peru's new interim President Francisco Sagasti speaks outside the National Congress in Lima on Nov. 16. Photo: Beto Baron/Getty Images

Peru's new interim President Francisco Sagasti said after being elected by lawmakers in Congress Monday that "today is not a day of celebration," per Al Jazeera.

Why it matters: Peru has had three different presidents in one week. The previous interim leader, Manuel Merino, resigned Sunday following deadly weekend clashes between police and demonstrators protesting the ouster of former President Martín Vizcarra, who was impeached last week.

The big picture: Peru had one of Latin America's strongest economies before the coronavirus pandemic. It's expected to face its worst economic downturn in over a century.

Of note: Sagasti's centrist Morado Party voted against Vizcarra's impeachment.

What he's saying: "We cannot go back," said the former World Bank official Sagasti. "But we can take action from Congress, from the executive, so that this does not happen again.”

Go deeper

Updated Nov 15, 2020 - World

Peru's interim president resigns after deadly clashes between police and protesters

A supporter of ousted President Martín Vizcarra holds a Peruvian flag as police deploy tear gas during a protest against the government of interim President Manuel Merino in Lima, Peru, on Saturday. Photo: Ernesto Benavides/AFP via Getty Images

Peru's interim President Manuel Merino announced his resignation on Sunday after holding the title for six days, following weekend clashes between police and demonstrators that left at least two people dead.

Why it matters: Peru, which had one of Latin America's strongest economies before the coronavirus pandemic, is expected to face its worst economic downturn in over a century amid the political crisis — which is the worst in two decades, per the Wall Street Journal.

Mike Allen, author of AM
35 mins ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."