Moody's Investors Service Vice-President Jaime Reusche said that despite the fact that 2019 was a year of challenges and hectic political situation with a slower pace of economic growth, Peru's macro-fiscal foundations have remained solid.
"Financial investors are taking note of
the country's resilience, since Peru recorded the lowest risk in the region in all country risk indicators, displacing Chile from the first place," he told El Peruano official gazette.
Peru's country risk has reached an average of 122 (basis) points between December 1 and 17 this year, the lowest in the region when compared to Argentina (2,212), Brazil (227), Chile (148), Colombia (178), Ecuador (1021), Mexico (313) and Venezuela (13,849) in the same period, according to data from the Central Reserve Bank of Peru (BCR).
As for the credit rating, Reusche remarked that the balance is favorable "because —in relative terms— Peru is seen as the winner in the region."
However, the Moody's officer said that better performance could be achieved this year and that traditional weaknesses of political institutions "inhibited a better performance."
In spite of that, he believes that Peru was differentiated from other countries in the region.
(END) SDD/RMB/MVB
Published: 12/24/2019