LatinNews Regional Monitor: Andean Group - 17 April 2020

* Peru’s economy & finance minister, María Antonieta Alva, announced that US$3bn worth of bonds have been issued to help finance the country’s response to the coronavirus (Covid-19) pandemic, a response which has been characterised by high levels of fiscal stimulus. Alva reported that there had been substantial demand for the bonds, allowing them to be issued at the “lowest historical rates”, and welcomed this as “a reflection of the confidence that the international market has in the strength of our economy”. President Martín Vizcarra has justified Peru’s high levels of govenment spending to stimulate the economy by arguing that “there is no need to think about an investment that brings financial returns [during the pandemic]”, and “the best investment is the one that most benefits the population”.

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