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, [...]

Cusco airport modernizations to “triple connectivity”

Modernization work to Cusco airport will triple its connectivity and allow enhanced connections with international flights into Lima, according to Chamber of Tourism chairman Daniel Ratti.
He said that the installation of new runway lights and a satellite-linked landing system will allow aircraft to land during conditions of poor visibility and at night time.
The improvements, scheduled [...]

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 [...]

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 [...]

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 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 [...]

Pisco to strike against alleged Paracas pollution

Pisco’s Mayor, Juan Mendoza, yesterday revealed that the city will hold a civic strike on June 6th, to protest against Pluspetrol’s alleged pollution of the Paracas Bay.
He described the move as a call for the national government’s attention regarding the situation of his community, and that a decision will then be made as to [...]

Peru to repay foriegn debt through bond issue, not with currency reserves

Finance Minister Luis Carranza said today that while net international currency reserves will become larger than foreign debt “some time this year”, they will not be used to pay the debt off early.
He said that the foreign reserves, which stand at around US$21 billion, are for protection against the possibility of external effects damaging [...]