The President of the Republic Martin Vizcarra on Monday afternoon stressed that the
The Legislative Decree No. 1455 —aimed at creating the Reactiva Peru Program— was published today in an extraordinary edition of the official newspaper El Peruano.
"It is extremely important, it is the first rule that we enact supported by the powers that the Congress of the Republic has granted us," Mr. Vizcarra said.
According to the Head of State, the program means that the Ministry of Economy and Finance (MEF) guarantees with S/30 billion (about US$8.675 billion) loans to companies, so that the economic system can remain functional.
"This is going to be very powerful," he stressed.
Additionally, Economy and Finance Minister Maria Antonieta Alva announced that —starting next week— the first low-interest loans will be granted to companies.
Reactiva Peru
The top official stated that Reactiva Peru seeks to reach out to companies affected by the paralysis of the country.
The statesman explained that the Central Reserve Bank (BCR) will give liquidity to financial companies, whereas the Ministry of Economy and Finance (MEF) will put the guarantee, so that the affected companies remain subject to loans and can thus obtain the capital.
"We want companies to be able to continue working and remain operational, once the state of emergency has come to an end, in order to improve the economy and gradually return to the normality that we all expect," he remarked that day.