3 foreign banks interested in Peru, Euro offsets weak Dollar, Chile & Peru on right path

Three foreign banks to enter Peruvian market

The Superintendency of Banks and Insurance (SBS) is currently holding talks with three big international banks which want to enter the Peruvian banking system, the institution’s head Felipe Tam said today. Two banks are from Europe and one from the United States, while the Deutsche Bank from Germany, whose entrance has already been announced, will obtain next month its permission to start operations. The international financial turbulence has not diminished the interest of foreign banks to enter the Peruvian market, he said. (ANDINA – click here to read complete article)

Peru’s agricultural exports to Europe offset weak US dollar

Thanks to strong Euro, Peru’s agricultural companies have found a way to offset continued US dollar’s decline by exporting more products to Europe, said the Association of Peruvian producers and Agro exporter’s guilds (AGAP). AGAP’s president, Guillermo Van Oordt, explained that the agro-exporters who send all their production to the US market do not have the chance to quickly redirect their exports to other parts of the world, like Europe, and so they will continue having financial troubles with the weakening dollar. (ANDINA – click here to read complete article)

Peru and Chile are on the right economic path

Chilean businessman and politician Sebastián Piñera said today that Peru and Chile are on the right economic path, opposed to Bolivia, Ecuador and Venezuela, which are on the “wrong path” because they have decided to follow an economic model that halts investments. "If we want to move forward in this world we have to follow those who succeed, not those who have failed. I am not the chancellor or the president, so I can speak with freedom: in my opinion Venezuela, Ecuador and Bolivia are in the wrong path”. (ANDINA – click here to read comple article)