Living in Peru : your everyday companion

Peru to surpass Chile, Australia lauds Peru for investment grade

Rafael Rey: Peru will surpass Chile economically due to investment grade

Peru will surpass Chile economically in a medium-term, after being upgraded to the investment-grade category (BBB-) by the international credit rating agency Fitch Ratings, stated today the minister of Production, Rafael Rey. “Both Peruvian and foreign businessmen must take advantage of this situation in order to increase their investments, because this is a recognition to Peru's economic and legal stability”, he explained. (ANDINA - click here to read complete article)


Investment-grade rating is due to Peruvians' efforts, says Adex

The Peruvian Exporters' Association (Adex) emphasized that the main reason why Peru has been upgraded to investment grade (BBB-) by Fitch Ratings is due to the 70 consecutive months of growth despite an unfavorable international economic environment. José Luis Silva Martinot, head of the Peruvian Exporters' Association, said he was delighted with the Fitch Ratings news and envisaged that this investment-grade category would bring in more foreign investments to the country that would create more jobs and livelihood opportunities. (ANDINA - click here to read complete article)


Australia praises Peru's investment grade status

The investment grade category assigned to Peru by Fitch Ratings was praised in the conference “Excellence in Investments: Latin America” held in the city of Sydney, where several businessmen, bankers and senior officers from Australia’s private sector participated. The Peruvian ambassador to Australia, Claudio de la Puente, highlighted Peru’s economy and stability achieved in the region. (ANDINA - click here to read complete article)

 | |

• Peru : Peru: Morning News Roundup - Saturday July 5
• Travel and Tourism : Peru's fine cuisine attracts high end tourists to Cusco
• Sports : WWE: HHH, John Cena & Shawn Michaels wrestle in Lima, Peru
• Sports : Pizarro, Farfan & Acasiete allowed to play for Peru's football team again
• Travel and Tourism : Peru, Mucho Gusto lauded by gourmands in Hong Kong

# Jose says :
7 April, 2008 [ 10:20 ]

Ladies and Gentlemen, let's for a moment stop comparing ourselves with other countries (especially Chile); We've been given an opportunity to be on the path which will lead to growth and prosperity. We are still behind in GDP terms with Colombia and we want to compare ourselves with Chile? they are 20 years ahead of us. Let's first reduce our poverty and keep our economic growth strong for the next 10 years and then we'll see. Me, a financial analyst living in the US recommends this.
Thanks

# jb says :
7 April, 2008 [ 20:45 ]

Jose, eres correcto señor.  We are soooo far behind Chile in production and other economic comparisons.  And public transportation too.  Just go to downtown Santiago and look around....no caos in the streets.  Order, peace, things work. You can step into the street without fear of being flattened by a micro or combi.  When a potential investor leaves our airport (world class), and travels into San Isidro, what do they see along Av. Faucett etc?  Talleres and other informal businesses where they use the streets in front of their shop to work on the cars.  The only think missing is someone killing chickens.  Did I mention the cheezy casinos?  We're far closer to Bolivia than Chile.  Peru has the disasterous administration of Velasco to attribute this disparity.  Land redistribution did more to put Peru into serious poverty and production decline than any single political action in recent Peruvian history.  A lot of people are euphoric for the FTA (TLC).  It is a very good thing but this is a long term endeavor for Peru.  The people in the mountains are always looking for quick fix government help.  It hasn't worked in the past and won't in the future.  Peru needs to produce via private enterprise.  Governments produces nothing but corruption and nepotism (3 people doing the job of one).

# Jose says :
8 April, 2008 [ 08:47 ]

JB, is true about what you said but let's also think about positive things. I believe there is corruption in most countries around the world and Peru is clearly not an exception. It can be fixed as long as we believe that without corruption we can progress, thus we'll start caring more about the country than self-interests. I love this news but let's be modest and think about this "gift." You might get a bicycle as a gift but if you don't take care of it, if you don't use it properly it'll take you nowhere!

Jose
New Jersey, US