Peru Tackles Virus With Region’s Biggest Stimulus

By marzo 29, 2020julio 11th, 2020Sin categorizar

The government is putting together a package of economic measur es totaling 90 billion soles ($26 billion), including health-care spending, tax breaks and loan guarantees to revive an economy that’s ground to a virtual halt after the government implemented some of Latin America’s toughest lockdown rules.

The economic package equals to 12% of gross domestic product, more than any other country in the region has announced to date, and could be increased further, said Finance Minister Maria Antonieta Alva. It includes short-term measures such as cash handouts, and longer term measures to “rebuild” some industries such as tourism that face devastation as a result of the pandemic, she told America Television’s Cuarto Poder.

Years of prudent fiscal management have put Peru in an enviable position to finance increased spending. The country is the highest-rated sovereign credit in the region after Chile, and the government has tens of billions of dollars in savings.

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Date: 29. March 2020