Moody's Investors Service Vice-President Jaime Reusche underscored that Peru is the emerging country with the greatest fiscal response to coronavirus (COVID-19) emergency and economic impact.
In an interview with
El Peruano official gazette, he assessed the magnitude of the Government's package of measures to face the pandemic, which has impacted the global economy, the strength of public spending, and the investment grade.
"While there is no need to fall into triumphalism —because there is still a long way to contain this pandemic— the measures were decisive and very well-articulated, mainly due to the coordination between the
Ministry of Economy-Finance (MEF) and the
Central Reserve Bank (BCR)," Reusche said when asked about the measures taken by Peru.
The package is convincing, he said, it covers all relevant aspects with tax, spending, recovery, liquidity and support measures aimed at citizens who have lost essential income to pay for basic needs.
This is the shock for which Peru has been preparing, with effort and sacrifice in the last 30 years. Besides, the economic authorities it has in order to face this are fully prepared to respond to such global catastrophe.
These 12 GDP points represent around S/25 billion (about US$7.27 billion), the largest stimulus package in Latin America to face the pandemic, according to economic analysts.
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Published: 4/6/2020