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Economy | July 20, 2011 [ 12:10 ]

Peru has opportunities to improve its rating, says Standard & Poor’s

Andina

Rating agency Standard & Poor's (S&P) on Wednesday said that Peru has opportunities to improve its credit rating and highlighted that the reappointment of Julio Velarde as head of the Central Reserve Bank (BCR) is a good sign that the country’s monetary policy will remain stable.

Analyst Richard Francis noted that so far S&P is not planning to lower the rating of the Peruvian credit rating and said that the country has the opportunity to improve it.

In that sense, Francis noted that the rating could be raised if its policies don’t vary substantially.

The analyst went on to say that S&P knows that there will be some changes in Peru, but “there will be good news if the monetary, fiscal and environmental policies for investments are still favorable.”

“What we are expecting from the new government is its fiscal and monetary policies and to see if the investment environment remains favorable. This way, the reappointment of Julio Velarde as head of Peru’s Central Reserve Bank is a good sign that at least the monetary policy will remain stable,” noted Francis.

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