Through Supreme Decree No. 010-2026-EF, published on Wednesday in the official gazette El Peruano, the indebtedness operation was authorized to finance the Program to Improve Fiscal Policy Efficiency to Boost Growth.
The regulation states that repayment of the aforementioned external indebtedness operation will be carried out in 26 semiannual installments, in the following percentages of the loan amount and on the corresponding dates:
– An interest rate of 5.25% from May 15, 2032, to November 15, 2034.
– An interest rate of 3.94% from May 15, 2035, to November 15, 2039.
– An interest rate of 2.91% from May 15, 2040, to November 15, 2044.
The external borrowing operation accrues an interest rate based on the SOFR rate, plus a margin to be determined by the IDB, in accordance with its interest rate policy.
The referenced external indebtedness is subject to a credit commitment fee on the undisbursed loan balance, periodically set in accordance with applicable provisions of the IDB's policy, without exceeding an annual rate of 0.75%.
During the disbursement period, no inspection and supervision fee is charged, unless the IDB reinstates it, in which case no more than 1% of the loan amount—divided by the number of semesters within the original disbursement term—may be charged in any given semester.
The regulation authorizes the MEF, through the General Directorate of Public Treasury, to exercise—within the framework of the external indebtedness operation—the Currency Conversion, Interest Rate Conversion, Commodity Conversion, and Catastrophe Protection Conversion arrangements.
To this end, the Director General of the MEF's General Directorate of Public Indebtedness and Treasury is authorized to sign, on behalf of the Republic of Peru, the conversion instructions, as well as any documentation required to implement the aforementioned conversions.
Meanwhile, the executing unit of the Program to Improve Fiscal Policy Efficiency to Boost Growth is the MEF, through the General Directorate of Public Treasury.
The amortization, interest, fees, and other costs arising from the external indebtedness operation are covered by the MEF using budgetary resources allocated to public debt service.