Living in Peru : your everyday companion

Fitch Upgrades Peru to Investment Grade

'Peru's public finance and external account performance once again exceeded expectations, contributing to a better than anticipated improvement in the sovereign's financial ratios.

As a result, most of Peru's financial indicators are now stronger than the median for low investment grade credits.

Furthermore, it is important to highlight an incipient structural shift in the drivers of Peru's economic growth, as the most dynamic growth rates now stem from the non-primary sectors,' said Paiz-Fredel.

Fitch upgraded Peru's long-term foreign currency Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and its long-term local currency rating to 'BBB' from 'BBB-'. The Rating Outlook on these ratings is Stable. Fitch also upgraded Peru's short-term IDR to 'F3' from 'B' and its Country Ceiling to 'BBB' from 'BBB-'.

Official press release

 | | | |

• Mining/Energy : Peru's gold production rose 27,036 ounces in February
• Peru : Peru invests US $22.5 million in the reconstruction of Cusco, President Garcia says.
• Latin America : Argentina's President Cristina Kirchner arrives in Lima, Peru
• World : Peru’s First Lady shows the way for Earth Hour 2010
• Peru : Cusco, Peru: Quillabamba and Machu Picchu without electricity due to landslides

# carl says :
2 April, 2008 [ 20:53 ]

Without doubt we are in the right direction.

ARRIBA PERU

# C. Rhor. says :
3 April, 2008 [ 08:06 ]

If so, why can't we afford to buy as we used to a year ago.  Again, I perceive the media manipulate our vision and we can easily become blindfolded.

# carl says :
3 April, 2008 [ 20:24 ]

Inflation, we used to have the worst. We are get used to.

But we are growing and more investment is coming so jobs for more people.

# Jose says :
8 April, 2008 [ 08:54 ]

It is true that with this "gift" we can start our path of sustained growth for all our citizens. But we have to understand that we can to take care of this reward and use it properly, otherwise it will take us nowhere. Goverment policies for the long term have to be strong, I just hope the next president will continue this, that way we will indeed get the AA rating.
S&P and Moody's, here we come!!

Name

Email

Notify me via e-mail of new comments to this entry

Code :

Comment

• Comments are the property of their respective authors, and LivinginPeru.com is not responsible for the content of these comments
• Only comments in English will be published
• Por ahora solo se permiten comentarios en ingles.
• Any offensive, injurious, profane or disrespectful comments will not be published
• You must include a real email address (this WILL be verified) for your comments to be published
• Repeat comments, or comments of a similar nature written by the same person will not be published
• All comments are sent to a moderator before publication
• Referring to the topic indicated in the article will increase your chances of publication
• Repeat offenses of the above guidelines will result in the removal of your ability to comment