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Latest News in Peru / Archive
APEC PERU 2008 | 10 October, 2008 [ 16:10 ]
Current oil crisis may affect image of Peru during APEC Leaders' Week
Living in Peru
Jobana Soto
All the reconstructing in the world won't be able to conceal the current political fiasco facing President Alan Garcia's administration. With the Asia-Pacific Economic Cooperation (APEC) Leaders' Week just around the corner, the continued unraveling of the alleged scandal involving Norwegian company's Discover Petroleum and Garcia's state oil executive Alberto Quimper and former agricultural minister during Garcia's first administration Romulo Leon may shed negative light on Peru's international image.
Jobana Soto
All the reconstructing in the world won't be able to conceal the current political fiasco facing President Alan Garcia's administration. With the Asia-Pacific Economic Cooperation (APEC) Leaders' Week just around the corner, the continued unraveling of the alleged scandal involving Norwegian company's Discover Petroleum and Garcia's state oil executive Alberto Quimper and former agricultural minister during Garcia's first administration Romulo Leon may shed negative light on Peru's international image.
The country's foreign minister, Jose Antonio Garcia Belaunde, denies APEC Leader's Week will be affected by the current oil scandal but did acknowledge that the country's image of political continuity and stability may be at stake. The scandal came at a most inopportune time when the world is facing the midst of a major international financial crisis.
Andina reports that Belaunde also noted the situation could get worse if the country is intended to review all oil contracts, thus giving the impression that "we are back to the beginning" on the issue of investment security.
News Source: ANDINA
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