Moody's highlights Peru Finance Minister's commitment to responsible economic management

00:00 | Lima, Dec. 24.

Moody's Investors Service Vice-President Jaime Reusche has highlighted Peruvian Economy and Finance Minister Maria Antonieta Alva's commitment to the responsible management of public finances in the South American country.

In this sense, Reusche said there is a very good technical capacity in the Peruvian State with exemplary technocrats in many economic institutions that do everything possible to boost the nation's development.

"(…) Peru has an exemplary economy minister: a young professional, highly trained, who has the best intentions and an undeniable commitment to the responsible management of public finances," he told Andina news agency.

According to the Moody's officer, inefficient bureaucracy at the local and regional government levels delays the country's economic development.

"This problem clearly affects policy execution, lowers the efficient allocation of resources, and contributes to generating a large informal sector imposing substantial costs on the economy," he expressed.

2019 marks 20 years of Peru's current fiscal institutional framework, which has allowed the nation to rely on significant fiscal strengths and macroeconomic stability, according to the Ministry of Economy and Finance (MEF) in its 2020-2023 Multiannual Macroeconomic Framework.

Moody's Investors Service affirmed Peru's A3 investment grade with a stable outlook, regardless of the events that have taken place in domestic politics and the international economic context throughout this year.

(END) MDV/MVB

Published: 12/24/2019

Video más visto

Moody's highlights Peru Finance Minister's commitment to responsible economic management

Most read