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Andean Group - December 2019

Economic Highlights

PERU | Spending on post-disaster reconstruction to reach US$2.65bn. On 1 December the Autoridad para la Reconstrucción con Cambios (ARCC), Peru’s emergency authority tasked with rebuilding infrastructure destroyed by the climatic consequences of the localised El Niño Costero climatic phenomenon in 2017, said that it will have spent over PEN9bn (US$2.65bn) by the end of 2019. This amounts to 47.3% of the ARCC’s total budget, designated for rebuilding and repairing over 350,000 houses and 11,000km of roads damaged by seven months of extreme weather. The ARCC has previously faced criticism for the slow pace of reconstruction in the 13 affected regions, but director Amalia Moreno says that improved co-operation between government bodies is helping to accelerate progress, with more than PEN4bn (US$1.18bn) spent in 2019 alone.

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