Peru's Fin Min: Social unrest has been critical test; it is being overcome

Photo: ANDINA/Presidency of the Council of Ministers of Peru

Photo: ANDINA/Presidency of the Council of Ministers of Peru

13:00 | Lima, Feb. 8.

Economy-Finance Minister Alex Contreras on Wednesday affirmed that social unrest is moderating, adding that it has been a stress test for Peru's economy, which is in the improvement phase.

"The important thing is that investors continue to trust the macro fundamentals of the Peruvian economy," he expressed.

In this sense, the Cabinet member mentioned that there is a significant demand for Peruvian bonds in case the Government has to contact international markets to issue these titles.

Elections

Yet Minister Contreras said that one of investors' main concerns has to do with setting the (date for the general) elections.

"That is an answer which depends on the Congress of the Republic. I hope that consensus can be reached very soon," he expressed.

On the other hand, the Cabinet member commented that another concern of investors is the withdrawals of pension funds from Pension Fund Administrators (AFPs).

"Additional withdrawals from pension funds take away liquidity from the market. That is a constant concern of investors," he indicated.

(END) SDD/JJN/MVB

Published: 2/8/2023
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