LIMA, PERÚ - DICIEMBRE 26. Vista aérea del Centro Financiero de la capital, durante el patrullaje del helicóptero de la policía nacional. Foto: ANDINA
Peru’s Deputy Minister of Economy Enzo Defilipi said he will address representatives of the Morgan Stanley Capital International (MSCI) in New York next week to speak about the country’s economic soundness and the Lima Stock Exchange (BVL).
The meeting, he said, attempts to make the agency realize how unfair it would be to downgrade BVL from emerging- to frontier-market status.
“We are going to show them Peru should not be included in the list of frontier markets, because it is a strong and licit economy, and because its stock exchange should be in the list of emerging markets like its peers in the Pacific Alliance.
The government has been working with the private sector to strengthen the Peruvian stock market over the past two years. An example of this cooperation took place two years ago with the enactment of the Securities Market Promotion, which resulted in the creation of an alternative securities market.
On the matter, the government official said Colombia and Argentina were recently warned that their stock exchanges were going to be downgraded, but Colombians got out of it doing what Peru is about to do next week; however, Argentina was demoted to frontier market status.
Defilipi noted it is true there are few actively traded stocks and that liquidity has dropped, but this is occurring at the regional level.
Despite this scenario, Peru has recently placed very profitable bonds with the participation of key investors, which proves there is still confidence in the Peruvian economy.