Hope for poverty reduction in Peru

Peru’s Prime Minister Jorge del Castillo yesterday announced that half a million Peruvians have “escaped from the shadow of poverty” thanks to the country’s sustained economic development.
He stated that the country’s overall level of poverty has dropped from 48% to 44% of the population, while recognizing that some regions are harder hit – for instance, [...]

Machu Picchu train company fined under monopoly law

The Trans-Andean Railway Company, responsible for rail transport to Machu Picchu, has been fined over $185,000 for operating an illegal monopoly. The company has also been ordered to cease its practice of refusing to sublet trains and other equipment that it rents from the state.
According to its contract, it is obliged to rent these units [...]

Peru’s economic risk hits new low

Peru’s economic risk rating dropped on Friday from 1.00% to 0.97%, as calculated on the JPMorgan EMBI+ rating. This is the first time in the nation’s history that its rating has dropped below 1%.
The Emerging Markets Bond Index Plus is a rating of the difference in value between a Peruvian government issued bond and an [...]

Peru Reserve Bank chief: stock exchange volatility down to inexperienced investors

Julio Velarde, the President of Peru’s Central Reserve Bank (BCRP) yesterday blamed recent instabilities of the Lima Stock Exchange (BVL) on the influx of a large number of inexperienced investors, drawn in by the indices’ high yield this year, who then panicked when prices started to drop. He estimated their total investment at around US$500 [...]

Lima Stock Exchange breaking records for growth

By midday today the Lima Stock Exchange (BVL) had already broken records for growth on a single day, with the General Index (IGRA or IGBVL) increasing by over 7.8% — more than enough to offset yesterday’s catastrophic fall. The Selective Index (ISEL or ISBVL) rose by 8.25% in the same time.
On a day that seems [...]

President Garcia: economy as solid as a rock

President Alan Garcia stated today that he expect the Peruvian economy to grow by 7-8% this year, due to an increase in local consumption and foreign investment, rather than due to the increases in world metal prices that have bolstered the economy in the first quarter but which are due largely to external factors.
Calling the [...]

Lima stock exchange back in the black, with furious trading and staggering increases

In the first few hours of today’s trading on the Lima Stock Market (BVL), a powerful rallying of investors has led to an increase in the indices that effectively wipes away yesterday’s spectacular losses. By noon the General Index (IGRA or IGBVL) was up 7.26% on yesterday’s close, while the Selective Index (ISEL or ISBVL) [...]

Record losses on Lima Stock Exchange

The all-time record for losses registered on the Lima Stock Exchange the day before yesterday (around 4%) did not last long – yesterday’s trading made even that drop seem like a minor readjustment.
The General Index (IGRA or IGBVL, the most representative of the exchange as a whole) crashed by 7.59% to close at 18,543 points; [...]

Peru’s national economic risk set to break a record

According to the JPMorgan EMBI+ rating, Peru’s national risk level closed today at 1.01%, down one base point from yesterday.
The rating, that measures performance of Peruvian sovereign bonds as against those issued by the USA, has never dropped below 1%. It is considered a good measure of political risk and the danger that a [...]

Lima bus prices set to rise up to 50%

 
Lima’s urban transport prices may be set to rise by 20-50% due to increases in fuel costs, according to East Lima transport corporation leader Julio Raurau.
He explained that this month’s price increase, by around 80 centimos per gallon, have forced the corporation to conduct a technical study into price increases to offset costs.
He said that [...]