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Government Seeks to Restore Fiscal Rules With Debt Bill

PERU
  • Peru’s cabinet approved a draft of a debt and fiscal deficit bill to restore the same fiscal rules that applied before the pandemic, Finance Minister Oscar Graham said at a press conference via Canal N.
    • Bill text sets debt ceiling at maximum of 38% of GDP, gradually falling to 30% of GDP over 10 years
    • Establishes goal for fiscal deficit of 2.4% of GDP by 2023, 1% of GDP in 2026. The bill will be sent to Congress for approval.
  • Peru’s cabinet agreed to declare a state of emergency in southern Mariscal Caceres province due to protests by local communities against Southern Copper’s Cuajone mine, Labor Minister Betssy Chavez said at a press conference broadcast on major TV networks.
    • 5,000 mine workers have no access to water at the mine, where a stoppage continues that started on Feb. 28 (BBG)
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