Economy

Congress Takes Unconstitutional Step, Amends Budget Act

Congress Takes Unconstitutional Step, Amends Budget Act

On Thursday evening, the Fujimorista majority in Congress voted to repeal an article in the 2016 Budget Act, to allow regional and local governments to amend or reassign their budgets. However, the Congress has overstepped its constitutional powers by voting on this law, according to Finance minister Alfredo Thorne. Article […]

Government Gets Rid of “Useless Red Tape”

Cabinet chief Fernando Zavala today announced a package of measures to eliminate “useless red tape” in administrative procedures, via a data bank interconnection between government institutions. The aim is to benefit individual citizens and small businesses, Zavala said. “Many public entities ask you more than once for documents, like the DNI for […]

Criticism Builds on Congressional Choice of Central Bank Directors

The left-wing Frente Amplio party in Congress has presented a motion to annul the election by Congress last week of three members to the Central Reserve Bank’s board of governors. At the same time, student leaders from the private Pacifico and Ruiz de Montoya universities and the state university of […]

Congress Election of Central Bank Directors Criticized

Congress Election of Central Bank Directors Criticized

The election in Congress Thursday of three new governors to Peru’s Central Bank has been met with loud protests from the minority opposition in the Congress and also criticism from political analysts and some business circles. The Fujimoristas, with a clear majority of 71 seats in the 130-member house, plus […]