Friends of Peru President-Elect Ollanta Humala Go on Offensive Against Investor Fears

'He's not so bad.'

That's what associates of Peru's new left-leaning president-elect are thinking as they do their best to calm investor fears after the stock market plunged on concerns he will be hostile to private enterprise.

Economist Kurt Burneo is a member of Ollanta Humala's team and he tells Peru's Channel 5 that the new government will maintain the country's fiscal policies, with an emphasis on social programs.

Humala eked out a win in a close election battle against Keiko Fujimori when he garnered 51.5 percent of the vote.

Humala issued a statement Tuesday asking Peruvians to "remain calm."

Vice President-elect Marisol Espinoza tells radio station La FM that Humala "has rejected any economic model that could be authoritarian."

Worries that Humala might follow Venezuelan President Hugo Chávez's pattern of nationalizing industries led stocks to fall 12 percent Monday.

On Sunday, Peruvians in New Jersey headed to the polls to vote in Peru's presidential election.

The Associated Press contributed to this report.

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