The International Crisis of no concern to Peru, who only thinks about Grow

After the crisis in his cabinet (or at least in part), the president of Peru, Alan Garcia, rethink the growth of the economy and to attract investors deal, while showing no very concerned about the international financial crisis is nerves putting several Latin American countries. The international financial crisis has barely changed the economic plans of the government of Peru. Alan Garcia is working to encourage foreign investors to invest in the country, exposing the many attractions that the economy currently offers. For this year, Peru expects to raise U.S. $ 8,305 million foreign direct investment. More than this estimate is optimistic, as 55% above that recorded in 2007 when he was U.S. $ 5,343 million and the international financial crisis was not as installed in the global markets. The evolution of foreign direct investment in Peru at a critical moment for the global economy shows signs of the assessment made by international investors in their accomplishments and evidence of its strength and recognition of business opportunities that it offers. In these days have once again confirmed the expected growth of the Peruvian economy for this year would stand at 9%, according to government's own estimates (and projections for 2009 growth are located in a non-least 7% ).

In this sense, Alan Garcia said proudly: "We welcome and trust how our country is firmly held despite the international earthquakes and the consequences of these financial crises our country are in good standing?. Such is the confidence of the Peruvian government on the strength of its economy and what is frowned upon from the outside, they decided to double the bet and shortly issue debt to 30 years amid international turmoil the worst in recent times . Alan Garcia was referring to this decision noting: "The Minister of Economy (Luis Valdiviezo) presented an intelligent and challenging. Amid the crisis, and when people withdraw money from American banks, Peru bidding: who buys Peruvian bonds to 30 years. So we will see how a thermometer that global savings or pension funds will come to buy these papers?.

For Garcia, the issuance of these securities will be a display of confidence in its economy: "I am sure the Minister of Economy and win the bet that many will say: Peru is a country sound, I'll buy their papers and then I pay the capital and their respective interests. That will be a test of confidence?. On the other hand, the advance of the Peruvian economy, despite the international crisis, is also observed in trade of the country. In November, the Peruvian government representatives will meet with their European counterparts to define the process of negotiating the trade part of a partnership agreement. In addition, in recent days has begun the sixth and final round of negotiations on a Free Trade Agreement (FTA) between Peru and China. The strength of the Peruvian economy not to think both in the international financial crisis and focus on growth, is also supported by the strength of the Central Reserve Bank of Peru. The central bank has sufficient reserves to meet any turbulence and so says the Peruvian Vice Minister of Economy Eduardo Moron: "Before entering the MEF did a calculation of how much should be an optimal level of reserves and that level of just over U.S. bordered $ 20,000 million, which has already passed?.

Is that international reserves held by the governing body of monetary policy is U.S. $ 34,421 million. In addition, the Reserve Bank has established measures to ensure liquidity in the financial system in crisis, thus preventing the occurrence of stress. Contrary to what has happened in other Latin American economies, international turbulences have not produced a great effect on the value of the Peruvian currency. The dollar in Peru, which currently trades for 3.09 Peruvian soles, has seen big changes. This is an additional positive for the country to attract investment they see on the exchange rate stability to the turmoil, a security element to the profitability of them. In these times of crisis, the Peruvian economy has demonstrated that an interesting development has been observed in their stability and strength despite the crisis, and allowing you to continue to focus on growth. The economy of Peru, where it seeks to prioritize predictability, becomes a benchmark for other economies continue to suffer for not having a defined horizon as happens in Argentina, where their markets closed with record falls and country risk breaking the barrier of 2000 points to the confusion existing economic policy decisions.

We will meet again tomorrow, Horacio Pozzo