Peru's Kuczynski sets ambitious poverty-reduction target

Peru's centrist President-elect Pedro Pablo Kuczynski said on Sunday that he would strive to cut the Andean country's poverty rate by more than half to leave it at no more than 10 percent at the end of his five-year term. Outgoing President Ollanta Humala had set out to lower the rate to 15 percent before a drop in prices for Peru's key mineral exports hit economic growth. The poverty rate inched down 1 percentage point to 21.8 percent last year.