Andina

Fitch: New Cabinet strengthens credibility of Peru's policy

17:51 | Lima, Oct. 7.

The new appointments in the Cabinet of Ministers are very important and strengthen the credibility of the country's policy, said Kelli Bissett-Tom, Director for Americas Sovereign Ratings at Fitch Ratings.

"These new appointments in the Ministerial Cabinet, especially the designation of a former Congress Chair to lead the Council of Ministers in Peru, as well as the recent development at the Central Reserve Bank (BCR), are actions that strengthen the credibility of the polity and the arguments of institutionalism," the executive told Andina news agency.

The President of the Republic Pedro Castillo on Wednesday evening administered the oath of office to the new Prime Minister of Peru, Mirtha Vasquez, who will lead a new stage for the current administration. In addition, he administered the oath of office to the Ministers of State.

The top official remarked that this new Cabinet seeks to promote dialogue, governance, and teamwork.

According to the Fitch representative, these are signs of recomposition, which restores the confidence of the country.

Regarding the Central Bank, the director highlighted the recent approval of the use of Sol-denominated fixed interest rate cross-currency swaps, with the aim of increasing the range of instruments with which the BCR intervenes in the foreign exchange market to reduce volatility of the U.S. dollar.

(END) VLA/JJN/RMB

Published: 10/7/2021
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