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Mercedes is a Peruvian economist and politician. She currently serves as the First Vice-president of the Republic of Peru and as a member of Congress. She has a Bachelor Degree in Economics from Universidad del Pacífico, as well as an MSc in Economics from the University of Miami, where she also was a PhD candidate. In 2006, she was appointed as Minister of Foreign Trade and Tourism. After serving briefly as Minister of Production, she was appointed in 2009 as Minister of Economy and Finance, the first woman in Peruvian history to hold this office. In 2011 she run for President representing the outgoing government party. She served between 2011 and 2015 as the country representative for the Inter-American Development Bank (IADB), in Mexico City.