CAF Looking To Provide Financing For Southern Pipeline

The Andean Development Corporation, CAF, is interested in providing some of the financing for the Southern Andean Gas Pipeline, which will be operated by Kuntur Transportadora de Gas, owned by Odebrecht of Brazil and Conduit Capital Partners of New York.

CAF’s representative in Peru, Ricardo Campins, said the Ministry of Economy and Finance has asked the regional organization to be the financial advisor of state-owned Petroperu in the project.

Petroperu is seeking a minority stake in the pipeline, which has been declared of national interest by parliament due to its potential development boost for Read more…

Peruvian Malls Look At 12 Percent Increase In Sales In 2012

Sales at Peruvian malls are expected to rise about 12 percent this year to $4.7 billion from $4.2 billion in 2011, according to the head of the Peruvian association of malls (ACCEP), Gonzalo Anzola.

“The projection for growth for malls is really soaring and we calculate that in two or threeyears we should pass from 45 to 80 or 100 malls in Lima and the provinces,” daily Peru.21 reported Anzola saying.

In 2000, there were seven malls in Peru, with six of them located in the capital, Read more…

Peru Defense Minister Plans Trip To Brazil

Peru’s Minister of Defense, Luis Alberto Otarola, is to travel to Brazil in February to promote the entrance  of Peruvian companies producing military equipment into Latin America’s biggest economy, state news agency Andina reported.

Otarola said that Peru’s naval shipyard and industrial services company, Sima, will look to position itself in the Brazilian market during the coming years.

“We hope that starting next year Sima will participate in bids in the Brazilian Read more…

Average Salaries Increase 13.3 Percent In 4Q11

The average salary of workers in Peru’s capital, Lima, increased 13.3 percent in the last quarter of 2011 versus the year-ago period, the National Statistics Institute, INEI, said on Monday.

The average wage was 1,274.8 soles (approximately $473) a month in the fourth quarter of 2011, which represents an increase of 149.5 soles from the fourth quarter of 2010, state news agency Andina reported.

The average salary among men was 1,493.9 soles, while for women it was 991.5 Read more…

Peru to Invest 30 Billion Soles in Road Infrastructure in Five Years

Peru’s government plans to invest 30 billion soles (approximately $10.1 billion) over the next five years in road infrastructure projects.

Transport and Communications minister Carlos Paredes said that investments are aimed at paving about 80 percent of Peru’s national road network, which covers a total of  23,075 kilometers.

Paredes said that the central government will seek support from municipal and regional governments to improve the country’s road infrastructure, state news Read more…

Cabinet Chief Valdes Confident Peru Will Win Maritime Border Dispute

The government remains confident that Peru will win its legal dispute with Chile over the countries’ maritime border, according to Cabinet chief Oscar Valdes. The dispute is being heard by the International Court of Justice in The Hague, and a ruling is expected .

Speaking before Congress last week, Valdes said: “The experience and qualifications of those in charge of the defense of the nation’s interests guarantees the quality of our defense.” 

Peru filed its complaint at the ICJ in January 2008, and the Court is expected to announce in February this year the schedule for the oral arguments. Read more…

Poor Eating Habits Cost Peru $8 Billion Per Year – Official

Poor eating habits that lead to illnesses such as diabetes and high blood pressure cost Peru some $8 billion per year, the Health Ministry said on Wednesday

Deputy Health minister Enrique Jacoby said the figure could increase and may affect the country’s development. In recent days, government officials have talked about placing a tax on junk food in an attempt to promote healthier eating.

“This extremely high figure creates a dilemma for the state because if we don’t act, the expenditure is going to eat up our budget,” state news agency Andina reported Jacoby saying. Read more…

Peru Exports Seen at $49 Billion in 2012

Peruvian exports are expected to continue to grow this year despite uncertainties surrounding the health of the global economy, according to Foreign Trade and Tourism minister, Jose Luis Silva.

In 2012, Peru’s exports are forecast to total $49 billion, state news agency Andina reported Silva as saying.

The figure would represent a 7.8 percent increase over the Central Bank’s forecast for Peru’s 2011 exports of approximately $45 billion. In 2010, Peru’s exports totaled $35.6 billion.

Silva said that Peru’s exports are expected to increase thanks to new free trade Read more…

Barclays: Peru Needs Systematic Solution to Social Conflicts

Barclays Capital said Peru’s government needs a systematic solution to social demands in the mining sector, rather than “putting out fires” amid opposition to individual projects.

“The issue is political since we have seen social demands that need to be resolved systematically or structurally and not necessarily by putting out fires,” said Barclays Capital’s Roberto Melzi, state news agency Andina reported.

Melzi recommended that the government bring together residents that live near Read more…

Humala Plans Trip to Venezuela Over Weekend

President Ollanta Humala plans to travel to Venezuela on the weekend,  where he will meet with that country’s president, Hugo Chavez, state news agency Andina reported.

The trip is intended to deepen bilateral ties between Lima and Caracas with a focus on trade, social issues and diplomacy, Andina said.

The government has requested that Congress provide Humala with authorization for the trip.

Humala had planned to travel to Venezuela in December for the first conference of the Community of Latin American and Caribbean States, Celac, an organization Read more…

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