The decision by international agency S&P Global Ratings to reaffirm Peru's credit rating proves that our economy continues to advance and that fiscal policy remains strong,
"This is a confidence boost for our country, for macroeconomic policy. It recognizes that political noise has not generated an impact on the country's macroeconomic fundamentals," he told Andina news agency.
The government official stressed that this announcement means an opportunity to craft an agenda which allows the economy to reactivate and increase potential GDP.
"It leaves us calm in the sense that this rating reflects the current moment in Peru," he emphasized.
However, the economist acknowledged that there is an institutional challenge. He went on to add that there are issues which can be improved.
Short-term goal
Deputy Minister Contreras stated that the short-term objective is to regain our rating (downgraded by another rating agency).
"We want to be 'BBB+' once again. Thus, we are working on giving confidence to investors, creating an environment of stability, and proposing measures that contribute to potential growth," he expressed.
In that case —he said— political stability is key to improving the credit rating.
"If we see it from an international perspective, more than 30 countries have suffered downgrades in their credit ratings. So, the fact that S&P maintains the rating outlook reflects the progress and the implementation of the measures from the
Peru Boost Plan, which we hope will be approved at Congress soon. This way we will continue to give positive signs for the recovery of confidence," he indicated.
Unlocking of investments
It will also give economic agents more peace of mind, which would favor the unlocking of investments as it allays fears, Contreras said.
(END) SDD/MVB
Publicado: 26/10/2022