Machu Picchu entrance fee may rise to $100

 
Peruvian tourism minister Mercedes Araoz today discussed the measures that may be put into place to preserve Machu Picchu, including further entry controls and the construction of a cable car system, in association with UNESCO and the World Tourism Organization.
“We have to administer the entry system and the administration of tours, as well as [...]

Juan Diego Flores receives Peru’s highest honor

 
Today Peru’s President Alan Garcia awarded the order of the Sun of Peru at the level of the Grand Cross, the nation’s highest honor, to Peruvian tenor Juan Diego Flores.
The ceremony took place in the Gilded Room of the Palace of Government, where the president recognized Flores for his outstanding contributions to Peru’s worldwide [...]

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-Brazil joint expedition: Amazon is world’s longest river

 A joint Peruvian-Brazilian expedition has declared that the Amazon is the world’s longest river, stretching 6,672km (4,145.8 miles) from the Mismi mountain in Cuzco, Peru, to its mouth into the Atlantic in Brazil – compared to the 6,671km (4145.2 mile) length of the Nile.
While no hydrologists doubt that the Amazon is the world’s largest river [...]

Apolo, Bolivia, calls on Peru to invade

Locals of an ecological reserve in Bolivia have held protests demanding that they be annexed by Peru. Waving Peruvian flags, as many as 4,000 people filled the local square and called on the mayor to extend an invitation to Peru to occupy the region.
The small town of Apolo, located just 6 hours’ walk from the [...]

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; [...]