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Economy & Business - December 2020

ECONOMIC HIGHLIGHTS

PERU | Bonds issue. On 24 November, the Peruvian government successfully issued US$4bn worth of US dollar-denominated bonds in three tranches: US$1bn of 12-year bonds maturing in 2032, US$2bn maturing in 2060, and US$1bn of a rare century bond, maturing in 2121 – the first time that Peru has issued such a long bond. The economy & finance ministry stated that the debt will be used to finance the government’s response to the coronavirus (Covid-19) pandemic, and the process of economic reactivation. “The bond issues show that investors trust the country’s sound economic policy and government leadership”, said Economy & Finance Minister Waldo Mendoza. The bonds were successfully placed despite the political and social turmoil of the preceding weeks, during which time Peru had three presidents within the space of eight days.

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