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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.

What he's saying: Merino told viewers in a televised address that he had "acted within the law" by being sworn into office on Tuesday, AP reports.

  • “I present my irrevocable resignation,” Merino said, per the Wall Street Journal. “It is time for peace and unity.”

Catch up quick: Lawmakers voted to impeach and remove President Martín Vizcarra from office following corruption allegations and criticism of his handling of the COVID-19 pandemic.

  • Human rights groups report that the whereabouts of 41 people who participated in the demonstrations are unknown, and at least 112 people were injured.
  • Peru's acting head of Congress, Luis Valdez, called for Merino to resign over the unrest, Bloomberg notes.

What to watch: It is not yet clear who will take over Peru's presidency, although some politicians and protesters have called for one of the 19 lawmakers that voted against ousting Vizcarra to take over the role, the WSJ reports.

Go deeper

Nov 17, 2020 - World

Peru names third president in a week

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.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

New deals in the COVID economy

Illustration: Sarah Grillo/Axios

COVID-19 is the macro horror of our lifetimes, and has destroyed or severely damaged countless businesses. But, like with most horribles, it also has created some opportunities.

Driving the news: Merck this morning announced an agreement to buy OncoImmune, a Maryland-based biotech that showed promising late-stage clinical results for a therapy that treats severe and critical coronavirus cases.

2 hours ago - Technology

Biden's openings for tech progress

Photo illustration: Eniola Odetunde/Axios. Photo: Win McNamee/Getty Images 

Item No. 1 on President-elect Joe Biden's day-one tech agenda, controlling the flood of misinformation online, offers no fast fixes — but other tech issues facing the new administration hold out opportunities for quick action and concrete progress.

What to watch: Closing the digital divide will be a high priority, as the pandemic has exposed how many Americans still lack reliable in-home internet connections and the devices needed to work and learn remotely.