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Peru: PM highlights state of net international reserves

Photo: Presidency of the Council of Ministers of Peru

Photo: Presidency of the Council of Ministers of Peru

12:50 | Lima, Oct. 25.

Prime Minister Gustavo Adrianzen on Friday underscored the level reached by Peru's net international reserves.

"These account for 30% of Gross Domestic Product (GDP)," the Cabinet chief noted via social media.

Citing statistics from the Central Reserve Bank (BCR), Adrianzen highlighted the level reached by net international reserves.

"This is one of the highest proportions in the region," he pointed out.

Growing trend

In the message, the Executive Branch representative specified Peru's net international reserves "reached US$83.719 billion" as of October 23.

This growing trend continues from September of this year, when these reserves amounted to US$80.365 billion.

Net international reserves consist of resources in gold and currencies other than Peruvian Soles. These act as a safeguard against possible capital outflows.

Thus, the greater the availability of reserves, the greater the protection against negative international macroeconomic events.

(END) FGM/MVB

Published: 10/25/2024