Andina

Peru's President announces new economic reactivation programs

Photo: ANDINA/Presidency of the Republic of Peru

Photo: ANDINA/Presidency of the Republic of Peru

10:30 | Lima, May. 22.

The President of the Republic Francisco Sagasti on Saturday announced a series of economic reactivation programs, which will be introduced next week and will focus on benefitting citizens who suffered the most due to the COVID-19 pandemic.

"We are coordinating with the Economy minister (Waldo Mendoza), who has the social sensitivity to maintain the fiscal policy, something that we will mention very soon," the Head of State told RPP radio and TV station.

"These are a series of programs, some of which are already underway and others that are to be approved next week, which help to reactivate the economy, especially focused on those who suffered the most due to the pandemic (…)," he added.

In this sense, the top official indicated that they will cover topics such as access to health insurance, taking into account the high number of people who passed away because of the lack of this tool.


Moody's

Likewise, the statesman said Moody's mentioned that it will change the country's outlook from stable to negative "due to a deterioration of institutional and governance factors."

"It is saying that the political tensions between the Executive and Legislative Branches have damaged the nation's institutionalism and governance; we have said that we are trying to reestablish trust with regular meetings (…)," he explained.

On the other hand, Moody's has reaffirmed Peru's A3 credit rating mainly due to its fiscal strengths. 

"In other words, we are fine and they (Moody's analysts) have confidence in us. However, they see dark clouds in the future," he stated.

(END) JCC/VVS/MVB

Published: 5/22/2021