Corporate credit quality will recover gradually in Peru in 2021 as pent-up demand revives activity following the short but big economic hit from the coronavirus pandemic in mid-2020. In a new report, Moody’s Investors Service says Peru’s healthy economic fundamentals point to a strong post-pandemic rebound of around 8% economic growth in 2021, well above expectations for the rest of Latin America.
Peru’s mining sector faced operational disruptions for at least a couple of months, but with most operations being resumed by July, a rebound will be quick. Large mining projects will continue to develop through 2021. Most mining companies were fully operational by July 2020, rebounding from tough operating conditions during the state of emergency, with mining limited to critical activities using a minimal workforce from mid-March through late June. Companies used this downtime to prepare for appropriate safety and security measures upon reopening.
Date: Septiembre 17, 2020