How did the 1970 earthquake affect Peru’s military government?

The Ancash earthquake of 1970, which occurred on May 31, 1970, was a catastrophic event that resulted in the deaths of 70,000 to 80,000 people, left 140,000 injured, and rendered more than 500,000 individuals homeless.12

This disaster caused millions of dollars in damage, which directly jeopardized the financial stability of the military government led by Juan Velasco Alvarado. At the time, the junta was already engaged in an ambitious program of economic nationalism, which included significant reforms such as the Agrarian Law and the nationalization of various industries. The immense scale of the destruction caused by the earthquake placed significant strain on the regime's resources and its broader economic agenda.12