Peru: Morning News Roundup – Friday January 25

Peru-Chile Trade Agreement on Hold

Peru announced Thursday it will take a similar attitude if the government of Chile delays its decision for a bilateral commercial agreement, derived from a difference on maritime territorial limits taken to the International Court of Le Hague. Peruvian Foreign Minister Jose Garcia Belaunde considered the decision of Santiago de Chile to take urgency out to the parliamentary approval for the agreement counter-producing, and said that if it is suspended, Peru would have to go slower than now. Garcia Belaunde said Chile has used this topic as a means for repression to Peru, since it took the topic to the International Court, and was sorry that some sectors do not understand that taking such a topic there cannot be considered an unfriendly gesture. (Prensa Latina – click here to read complete article)

Peru Wants Separate EU Agreement

Peruvian Foreign Minister Jose Garcia Belaunde insisted on requesting a separate agreement from the European Union on Thursday, distinct from that being negotiated by country members of CAN (Andean Community of Nations). The minister defended that request by President Alan Garcia this week, during a state visit to Spain, regarding a free trade agreement with the EU. Justifying this stance, which has triggered criticism here, Garcia stressed "we cannot end up without any agreement" because of what other countries want. He also said a formula should be found so that those who advance more are able to sign a treaty with the European bloc without being penalized by those trying joint negotiations at a slower pace. (Prensa Latina – click here to read complete article)

Peru May Expand Investment Options for Pension Funds (Update1)

Peru may allow the country’s pension funds to invest in more types of investments after incurring losses this year, Finance Minister Luis Carranza said. One change under consideration would allow pension funds to invest in both private and government infrastructure projects, Carranza told reporters in Lima today. “This year they’ve had losses, but you have to look at the long term,” Carranza said. “We’re working on a reform which will make pension fund investments more flexible so they can invest more aggressively in infrastructure.” Peru expects private investment in ports, power lines, roads and other infrastructure to more than double to $2.6 billion this year, according to state agency for promoting private investment, Proinversion. The government aims to boost public spending by 30 percent this year, Carranza said. (Bloomberg – click here to read complete article by Alex Emery)

Local woman returning to earthquake-ravaged Peru

One local woman describes her mission in life is to work overseas, helping improve the lives of people living in poverty. And Sherry Peters, 41, has been doing just that. She is just recently back in Grand Falls-Windsor from a year-long stint in Peru, where she had been teaching English in the capital city of Lima and volunteering her services to help in smaller communities that were devastated by the earthquake in mid-August. “There is nowhere in the world that I would rather be right now,” said Ms. Peters. “I feel God has a mission for everyone, and my mission is to be overseas helping those living in poverty.” (Advertiser – click here to read complete article by Jennifer Pelley)