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Peru Offers Safe Haven for Panicky Investors

Peru offers economic, social and political stability for panicky investors who are fleeing from other countries, Peruvian President Alan García Perez said Friday at the opening session of the APEC 2008 CEO Summit.

He assured that Peru, unlike some neighbors, is going to maintain currency stability, macroeconomic balance, low inflation, investment-friendly policy, among other favorable conditions for investment which would contribute to increased employment and prosperity.

"The country also offers its economic growth. In 2006, Peru grew 7.6% thanks to the current and previous administrations; it grew almost 9% in 2007 and is expected to rise 9.4% this year. The important thing is that Peru’s growth for the next years would be over 6 percent," President García said Friday.

In his speech at the APEC CEO Summit held at the Ministry of Defense Convention Center, the Peruvian leader highlighted the diversity of investment opportunities Peru has to offer for investors and entrepreneurs from APEC economies.

President García also asked entrepreneurs from the 21 Asia Pacific economies to regain confidence in the financial system, without waiting for governments to do something about the financial crisis.

"My first call is to restore confidence and not wait for what the G-20 or governments can do,” García said

The CEO Summit provides the opportunity for senior business people to hear from and engage in discussion with political leaders, policy makers, influential academics and comentators, media representatives and other CEOs.

The leaders of Australia, China, Indonesia, Chile and Peru as well as Singapore's Foreign Minister and Indonesia's Trade Minister will attend the first day of the CEO Summit, held at the Ministry of Defense Convention Center in the Limean district of San Borja. 

News source: Andina

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# mericorps says :
21 November, 2008 [ 22:02 ]

Once again, LIP decides to take a propoganda piece and present it as news.  Again, I will ask LIP to search for more fair and balanced articles to translate.

# P says :
22 November, 2008 [ 07:39 ]

propaganda? with many FTA's, Investment Grade, a 9.8% growth, 38 billion in foreing reserves (way more than the external debt). Oh did i mention it? 9.8% growth in the WORST Economic Crisis in 40 years, i think its no yoke to be called a safe haven.

# mericorps says :
22 November, 2008 [ 10:41 ]

Bolsa down 30%, AFP losses in the 6-10 Billion Soles range, Job loss growing, inflation rising and credit over-extended by the consumer base.

The only thing you can say about Peru is that it has not been hit as hard as the rest of the world YET.

# P says :
22 November, 2008 [ 16:24 ]

In comparisong with the other countries in the world, we are VERY good, sure the stocks are down, there is an economic crisis, and we are a free market, with many multinational companies listed in the stock wich are being hit hard. Listen to what the IMF says, or the World Bank.

# Grow up P says :
24 November, 2008 [ 07:37 ]

P I suggest you educate yourself. It took a year or two for the Great Depression to hit Peru in the 1930's. That's because Peru has an economy heavily based on exports and money from overseas and these exports and loans do not stop overnight because of contracts and obligations but rest assured they will not be renewed and the economy will go down the drain...

# P says :
25 November, 2008 [ 00:00 ]

Sure, and all major economic institutions of the world are wrong when they say that Peru is one of the most secure countries in the world.

Sure, compare what happened 70 years ago with Peru's economy with Perú's current economy.

Also you live in Peru but you don't know anything about Peru, Peru's growth is being sustained on the Internal Demand, not only on Exports, wich will go down but not too much.

You are also thinking too much about the US, as if the US was our major trading partner, in 2008 the US is the focus of less than 20% of our exports.

 

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