Manuel Prado Ugarteche was a key figure in Peruvian politics, serving as president of Peru twice, first from 1939 to 1945 and then from 1956 to 1962. Born on April 21, 1889, in Lima, Prado came from an influential and aristocratic family. His father, Mariano Ignacio Prado, had also served as president of Peru, which shaped Manuel Prado's political path. He was educated at the Champagnat School in Lima before studying economics in France.
Prado’s first term as president began in 1939, following a controversial election held against the backdrop of rising global tensions due to World War II. During this period, Prado maintained a policy of neutrality while gradually aligning Peru with the Allies. Under his leadership, Peru’s economy experienced growth, largely driven by the export of raw materials like rubber and copper, which were in high demand during the war.
Prado took several measures to stabilize Peru's economy and modernize the country’s infrastructure. However, he also faced internal challenges, particularly growing social tensions stemming from economic inequalities and labor demands. His government was criticized for failing to adequately address these social concerns, although Prado sought to maintain stability by avoiding major conflicts. At the end of his first term in 1945, he was succeeded by José Luis Bustamante y Rivero after a peaceful transition of power.
Prado was re-elected as president in 1956 during a period of significant political and social instability in Peru. During his second term, he implemented policies aimed at encouraging foreign investment and developing the country’s infrastructure. However, these policies also increased Peru’s economic dependence on foreign companies, sparking tensions with nationalist movements. Prado attempted to reform certain economic sectors while maintaining a moderate political stance.
One of the key events of his second term was the signing of the 1958 cooperation treaty with the United States as part of the Alliance for Progress program. This program aimed to promote economic and social development in Latin America and counter the growing influence of communism in the region.
In 1962, shortly before the end of his second term, Manuel Prado was overthrown in a military coup, led by officers who accused his government of failing to control electoral fraud in that year’s presidential election. The coup effectively ended his political career, and he spent his final years in exile in France and Spain.
Manuel Prado Ugarteche passed away on August 15, 1967, in Paris. His legacy is a complex one, marked by periods of economic growth and modernization, but also by social tensions and increasing dependence on foreign powers. He is often remembered as a pragmatic president, concerned with maintaining stability while navigating the complex challenges of both domestic and international politics in Peru.