Julio Velarde will assume a third five-year term as governorof the Banco Central de Reservadel Perú, Reuters reported July 11, citing a statement fromPeruvian President-elect Pedro Pablo Kuczynski.

Kuczynski, who will take up the Peruvian presidency July 28,said Velarde agreed to stay in the position after meeting the politician'schosen finance minister, Alfredo Thorne, and chosen prime minister, FernandoZavala.

Velarde was appointed as the central bank head in 2006 byformer President Alan Garcia, which was followed by his second appointment in2011, the report added.