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 Víctores de Velasco Juan Víctores de Velasco Juan Víctores de Velasco, O.S.B. (1644–1713) was a Roman Catholic prelate who served as Bishop of Trujillo (1707–1713) and Bishop of Santa Marta (1694–1707). Juan Víctores de Velasco was born in Burgos, Spain in 1644 and ordained a priest in the Order of Saint Benedict. On 19 Jul 1694, he was appointed during the papacy of Pope Innocent XII as Bishop of Santa Marta. On 21 Oct 1694, he was consecrated bishop at the convent San Martín in Madrid, Spain. On 28 Nov 1707, he was appointed during the papacy of Pope Clement XI as Bishop