Peru able to face world financial crisis, says minister Vadivieso

Minister expects international situation improves in 2009 second half

Peru

Peru's minister of Economy Luis Valdivieso. Photo: ANDINA/Norman Córdova

11:55 | Lima, set. 16 (ANDINA).

Peru is in a good position to face the current international financial crisis, caused by US banks bankruptcy, since preventive measures have already been taken to mitigate negative impacts, Peruvian minister of Economy and Finance, Luis Valdivieso, said Monday.

He indicated that Peru’s Ministry of Economy and Finance (MEF) had foreseen that international crisis could get worse in the rest of the year, so measures were coordinated to face the crisis that now affects the world.

“We consider that, with our coordinated policies with Central Reserve Bank (BCR), with all country sectors, and people in general, we will move ahead”, said the minister during his presentation before the Budget and General Accounts Commission of Peruvian Congress.

In this sense, he recalled that MEF decided to rise the fiscal surplus target to 2.7 percent of 2008 Gross Domestic product (GDP), and that will represent a great saving for the country.

The Peruvian minister asked population to remain calm because the government will take responsible macroeconomic policies to prevent international crisis from affecting the country.

Valdivieso also said that MEF, as well as international analysts and the International Monetary Fund (IMF) expect that the international situation improves in the second half of next year.

(END) EBS/CSO/GCJ/LVT
Publicado: 16/9/2008