Peru has successfully issued bonds worth US$3 billion in the international market,
Economy and Finance Minister Maria Antonieta Alva reported on Thursday.
"Today we started an issuance of US$3 billion in the international market and, although the transaction has not been finalized yet, our bonds are expected to be placed at a historical interest rate," Alva informed.
"This is a successful issuance of bonds in the international market, which reflects the support for Peru," she expressed.
The cabinet member emphasized that the great demand for Peruvian bonds will determine that they are placed at historically low rates.
Economic plan financing
The obtained resources will be used to finance part of the ambitious stimulus package equal to 12% of GDP, which is totally focused on the population to address the
COVID-19 emergency.
According to the government official, this debt management operation is a way to obtain liquidity. The other ways involve budget reallocations and asset management.
"This is part of the diversification strategy of the plan's funding," she said.
The minister emphasized that the situation the country is going through requires an unprecedented economic plan. "We have said it from the outset," she added.
Objectives of the plan
The three main objectives of this plan are: i) to improve the health service capacity, to meet population's needs; ii) support families; and iii) maintain the country's production capacity.
"This is very important to generate jobs," Alva noted.
On this occasion, President Martin Vizcarra was joined by some members of the Council of Ministers, including Minister Alva. The event was held at the Government Palace in Lima.
Thursday marks the thirty-second day of mandatory social isolation.
(END) SDD/JJN/RMB/MVB
Published: 4/16/2020