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Peru: Morning News Roundup – Thursday, December 20

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Peru’s Camisea LNG project gets key loan

The Inter-American Development Bank approved a $400 million loan on Wednesday to export liquefied natural gas (LNG) from Peru’s Camisea field, an important funding pledge that is expected to open the door to billions of dollars in private investment. Environmental groups have opposed the project to use gas from the Camisea field, an important gas reserve in South America that Peru wants to develop as part of a broader plan to gain energy self-sufficiency. The total cost of Peru’s LNG project is about $3.9 billion. It would be one of the largest investments ever in the Andean country. (Reuters – click here to read complete article)

IDB Backs First Peru RMBS Program

The IDB has issued a partial credit guarantee of 5% for a $100m RMBS program for Peru’s BBVA Banco Continental. The issue is understood to be the first mortgage securitization in that nation. The first package in the program, a $25m offer, priced last week at 6.75%. Demand reached $42m, from mostly Peruvian pension funds and insurance companies. S&P gave the deal AAA local and BBB- international ratings. The mortgage portfolio is concentrated in the cities of Lima, Callao, La Libertad and Arequipa. (Latin Finance)

IMF sees Peru growing 7 pct in 2008 after review

Peru’s economic performance is surpassing expectations and growth in 2008 should be between 6 percent and 7 percent, even as the global economy slows, the IMF said on Wednesday. The IMF board also said Peru passed its second review under a $270 million standy loan agreement signed between the lender and the government of President Alan Garcia in January of this year. The pact lasts for 25 months. "Things are going very well (in Peru)," said Martin Cerisola, chief of the mission from the International Monetary Fund that visited Peru last month. (Reuters – click here to read complete article)

Peru to send 205 rotational troops to UN mission in Haiti

Peru will send 205 soldiers to rotate its contingent of the United Nations Stabilization Mission in Haiti (MINUSTAH), officials said on Wednesday. The new contingent will be led by Lt. Col. Fernando Vera. Peruvian Defense Minister Allan Wagner and armed forces joint command chief Admiral Jorge Montoya will attend a send-off for the fresh troops on Thursday. The contingent will be stationed at the Chavin base in the Shodecosa Industrial park in Haiti’s capital Port-au-Prince, one of the most volatile areas in the island country. (Xinhua – click here to read complete article)

FUEL TV to Air 2007 Mancora Peru Classic on Thursday, December 20th

Airing Thursday, December 20, 2007 at 8:00pm Eastern Time (5:00pm Pacific Time), and re-airing several more times over the next month, FUEL TV will showcase the 2007 Mancora Peru Classic, the sixth stop of the 2007 ASP Women’s World Tour. The ASP Women’s World Tour heads south to Peru for the inaugural Mancora Peru Classic. Boasting waves that will let the girls unleash their full talent, this event is sure to draw out the Peruvian passion for surfing, as the locals cheer on their national hero Sofia Mulanovich. Watch as she tries to edge out the seven time world champ Layne Beachely and Australian rookie sensation Stephanie Gilmore. Official Press Release

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