Peru’s foreign debt has touched record lows as a wave of social unrest amid quickening inflation upends a market once famed for its resilience to near-perpetual political crisis, Bloomberg News reported. Government bonds due in 2031 have tumbled 5.5 cents since early last week to trade at 89 cents on the dollar on Tuesday, lingering near an all-time low. The extra yield investors demand to hold Peru’s bonds over U.S. Treasuries, meantime, is at 194 basis points, versus just 165 a week prior, according to JPMorgan Chase & Co. data. President Pedro Castillo is struggling to stem unrest in response to sky-high food and fuel prices, exacerbated by the war in Ukraine. There is mounting pressure for him to resign, just over eight months into his term and even after he recently survived a second impeachment vote. With five presidents in just over four years, there is a sense that Peru is becoming ungovernable. And of course, a surge in U.S. yields is adding even more pressure to the Andean nation’s dollar bonds. Peru’s dollar bonds are the second-worst performing in the world so far in April, according to data compiled by a Bloomberg bond index, surpassed only by Sri Lanka which announced plans to suspend foreign debt payments on Tuesday. The Andean nation’s 100-year bond is just off a record low 68 cents, and the sol is down about 2% in the past five days. Read more.