Former banker sworn in as Peru's new president

Former Wall Street banker Pedro Pablo Kuczynski - known as PPK - has been sworn in as Peru's new president.

The conservative politician, who is known as a technocrat with a polished resume, choked up as he took the oath of office on Thursday, before donning his new red-and-white presidential sash over his pinstriped suit.

"I will seek equity, equality and fraternity among all Peruvians," he said, vowing "not just economic, but human growth".

His predecessor, Ollanta Humala, left office after a tenure marked by constant cabinet changes and an increase in crime.

As he starts his term in office, Kuczynski is hoping to to kick-start the slowing economy and unite a country deeply torn by a close election.

In his inaugural speech, Kuczynski said he longed for Peru in five years "to be more modern, more just, more equal".

The conservative beat Keiko Fujimori in run-off elections last month.

Peru's economy has risen sharply in recent years fuelled by a commodities boom but many Peruvians live in poverty and lack basic services.

Kuczynski has pledged to work for all Peruvians, calling for a "social revolution".

He will need support from Fujimori's party to enact reforms, however, since it controls congress.

Fujimori, the daughter of incarcerated ex-President Alberto Fujimori, was once favourite to win the vote but eventually lost by less than a quarter of a percentage point.