Peruvian Vice Minister
In the midst of the crisis and when people take their money out of American banks, the Peru makes an offer: who buys Peruvian bonds to 30 years. So we will see how a thermometer, global savers or pension funds will come to buy these papers. For Garcia, the issuance of these securities will be a display of confidence towards its economy: I’m sure that the economy Minister will win the bet and many will say: the Peru is a solid country, I’m gonna get their papers and then pay me, the capital and the respective interests. This will be a test of trust. Moreover, the advance of the Peruvian economy, despite the international crisis, is also observed in the commercial sector of the country. Next November, the Peruvian Government representatives will meet with his European peers to define the process of negotiation of the trade pillar of an association agreement.
Furthermore, in recent days, has begun the sixth and last round of negotiations for a Treaty of free trade (FTA) between Peru and China. The solidity of the Peruvian economy to not think so much in the international financial crisis and focus on growing, also relies on the strength of the Central Reserve Bank of Peru. The Central Bank has sufficient reserves to face any turbulence and so the Peruvian Vice Minister of economy Eduardo Moron says: before entering the MEF did a calculation of how much it should be an optimal level of reserves and bordered something more than US $20 billion, which already has surpassed that level. It is that international reserves that owns the guiding entity of monetary policy amounted to USD 34.421 million. In addition, the Reserve Bank has provided measures to ensure liquidity of the financial system in case of crisis, avoiding thus that stressful situations occur. Contrary to what has happened in other Latin American economies, the international turbulence have not generated a great effect on the value of the Peruvian currency.
The dollar in Peru, which is currently listed by the new 3.09 soles, has not observed large variations. This is a further positive for the country attract investment seen in exchange rate stability before the turbulence, a safety for the profitability of the same element. In these times of crisis, the Peruvian economy is showing that it has achieved an interesting evolution which is observed in its stability and strength despite the crisis, and lets you continue focusing on growth. The economy of Peru, in which seeks to prioritize the predictability, thus becomes a benchmark for other economies suffering by not having to follow a skyline defined as happens to the Argentina, where its markets closed with falls record and with a risk country breaking the 2000 barrier points before the confusion existing by its economic policy decisions. You will find us again tomorrow, Horacio Pozzo Autor original and source of the article.
