Fin Min: Investors remain confident in Peru's economic fundamentals

Photo: ANDINA/Presidency of the Republic of Peru

Photo: ANDINA/Presidency of the Republic of Peru

11:31 | New York (U.S.), Feb. 10.

After holding meetings with nearly 20 investors in New York City, Economy-Finance Minister Alex Contreras highlighted their interest in Peru, which was shown in the confidence expressed by them in the South American country's economy and the recovery of its growth levels.

"I have held meetings on Monday and Tuesday with nearly 20 investors; there is a lot of confidence in Peru's economy, in its reactivation. The coup d'état by ex-President (Pedro) Castillo, the social unrest, has been a stress test for the Peruvian economy, which is being overcome; the important thing is that they (investors) continue to trust Peru's fundamentals," the government official expressed.

The Ministry of Economy and Finance (MEF) began this week a Road Show with international investors based in the main financial markets of the United States, which include the cities of New York, Boston, and Los Angeles.

"There is negative news that has hit, but what matters the most is that confidence in the strength of Peru remains (strong). I could say that Peru is still the 'Phoenix Bird' of Latin America," Contreras expressed.

"It is a country that has recovered from very deep crises: the COVID-19 pandemic, (Coastal) El Niño Phenomenon, the Lava Jato corruption crisis, political turbulence, as well as from this social conflict," the MEF head added.

The Cabinet member affirmed that Peru's economy is expected to recover, adding that it relies on the fundamentals for said purpose, because it remains one of the most solid countries in fiscal matters, with the lowest country risk, and that gives the country space to implement measures.

After the first meetings held in New York City, these continued in Boston, and Los Angeles led by Deputy Economy Minister Juan Pichihua.

At these gatherings, information was provided on the strengths and outlooks of the Peruvian economy, the main guidelines of fiscal and monetary policy, as well as the plans that have been implemented to recover and boost economic growth.

Editor's note: Information provided by the Ministry of Economy and Finance.

(END) NDP/MVB

Published: 2/10/2023