On 15th December Peruvian Minister of Economics and Finance (at the time) Dr. Luis Valdivieso visited London as part of a promotional tour through major financial and investment centres. Dr. Valdivieso was joined by the President of Peru's Central Bank, their top advisors, the Director of Peru’s investment promotion agency, and the CEOs and general managers of Peru’s biggest bank, insurance, agro industry, construction and mining groups.
The purpose of the tour, which had previously taken them to New York and Boston and would continue through Madrid, was to promote the current possibilities for investment in Peru's vibrant economy, which grew 9.3% in 2008, the highest level of growth in the region. The Minister outlined as well the measures the Peruvian Government was adopting to maintain the strength of the economy and continue to spur growth in the coming year.
In particular, the delegation highlighted the lower vulnerability of Peru's smaller and less exposed financial system (with only US$ 3 billion in mortgages), the accumulation of over US$ 30 billion in international reserves, the stability and strength of Peru's national currency and the fiscally responsible policies that had allowed it to reduce overall public debt from 47% to 23% of GDP and to run a fiscal surplus.
Thanks to all of these and other measures Peru has sufficient financing to counter any external shocks arising from the financial crisis. Moreover, US$ 3 billion in additional contingency lines of finance have been secured with rapid access to a further US$ 6.25 billion from multilateral sources, although these are not deemed necessary at the time given Peru's current financial position.
The tour was organized by JP Morgan and Goldman Sachs, with support from the Peruvian Embassy, and included a luncheon attended by representatives of major asset managers and investment funds.
To download the Minister's presentation, click here...
For further information on Peru's Financial System, click here...
To request further information on investment opportunities in Peru please send us an email to
ahart@peruembassy-uk.com or visit www.proinversion.gob.pe |
