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Peru: Economy has lowest risk in region

14:02 | Lima, Aug. 8.

The Peruvian economy has the lowest country risk level in the region, despite the difficult international environment generated by the trade tensions between the United States and China, the Economy and Finance Ministry (MEF) affirmed Thursday.

To date, Peru's country risk has reached —in average— 108 basis points (bps), while other economies —such as Brazil (245 bps), Mexico (208 bps), Colombia (188 bps), and Chile (135 bps)— have registered higher figures.

According to MEF, the nation's economic resilience is due to a prudent and responsible management of the economic policy, as well as the solid macroeconomic foundations (high net international reserves, low public debt, and inflation within the target range).

These strengths have also helped Peru maintain its credit rating.

In June 2019, Moody's ratified the Inca country's credit rating at A3, outlook stable, based on the soundness of fiscal accounts and credibility of macroeconomic policies.

Likewise, despite the adverse external environment, Peruvian economy growth forecasts for the upcoming months are still favorable.

These projections are based on the recovery of primary sectors (mining, fishing, and primary manufacturing spheres) after the dissipation of temporary shocks in the first half of 2019, as well as domestic demand recovery.

(END) JJN/DTK/MVB

Published: 8/8/2019

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Peru: Economy has lowest risk in region

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