Peru’s finance minister says market’s poor performance won’t effect economy

Peruvian Finance Minister Luis Carranza(LIP-jl) — Peru’s Finance Minister, Luis Carranza, informed on Wednesday that Wednesday’s sharp loss registered in Lima’s Stock Exchange (Bolsa de Valores de Lima -BVL) should not generate concerns over Peru’s economic conditions.

"What we must emphasize here is that Peru’s economic conditions are still running at optimum levels. Today’s (Wednesday’s) fall should not be a cause for concern," stated Peru’s top financial authority.

According to Carranza, the country’s foundations in the ‘real’ economic sector continue to be ‘strong.’

Additionally, the finance minister reiterated his agency’s economic forecast, which has pegged Peru’s economic growth at 7 percent.

"Private investment continues to grow at 20 percent. This reflects favorable business conditions and shows that the BVL’s base stocks are still at very positive levels," he said.

He added that yesterday’s fall, the sharpest fall since 1995, is a ‘speculative movement’ and he called on investors to be calm.