Juan Velasco Alvarado of the Velasco administration's economic policies is still debated today. As the Peruvian military government ran deeper into debt, it was forced to devalue the currency and run inflationary policies. This however, was in part due to the 1970s Energy Crisis, which also affected Peru and made it impossible for the Velasco administration to fund some of its most ambitious reforms. In foreign policy, in contrast with his 1970s Latin American contemporaries, which were mostly right-wing military dictatorships, he pursued a partnership with the Soviet bloc, tightening relations with Cuba and Fidel Castro and undertaking major purchases of Soviet military
Juan Bautista Alvarado California in January 1842. Micheltorena was to assume the governorship and the position of commandant general. In October, before Micheltorena reached Monterey, American Commodore Thomas ap Catesby Jones mistakenly thought that war had broken out between the US and Mexico. He sailed into Monterey Bay and demanded the surrender of the Presidio of Monterey. Micheltorena's force was still in the south and the Monterey presidio was undermanned. Alvarado reluctantly surrendered, and retired to Rancho El Alisal. The next day Commodore Jones learned of his mistake, but Alvarado declined to return and instead referred the commodore to Micheltorena. Micheltorena eventually made