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LatinNews Regional Monitor: Andean Group - 31 March 2020

In brief: Peru to launch massive economic recovery package

* Peru’s economy & finance minister María Antonieta Alva has outlined plans to spend a further US$26.4bn on mitigating the economic impact of the coronavirus (Covid-19) pandemic. Alva said this latest economic package, equivalent to 12% of the country’s GDP, will be divided into three equal parts: to contain the disease; to provide credit guarantees to companies affected by the containment measures; and to re-activate economic production after the health emergency has passed. She did not rule out further economic stimulus in the future, saying that “if more is required, more will be done, the most important thing for us is to protect employment”.

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