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Government Will Not Privatise Petroperu, March Economic Activity Expected

PERU
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  • Presidential spokesman Hinojosa said yesterday that the government will not privatise Petroperu, following reports the previous day that the company’s board had asked the government to put it under private management. Hinojosa said that this decision had come directly from President Boluarte. The request from Petroperu’s board earlier this week came as the company is reportedly seeking $2.2bn in funds to continue operating.
  • On the data front, March economic activity figures will be released at 1600BST(1100ET), with analysts expecting growth to slip to +0.8% y/y, from +2.8% in February. April unemployment data will also cross at 1600BST, with consensus there for a decline in the unemployment rate to 7.3%, from 7.7%.
    • Economic Activity YoY, March, est. 0.8%, prior 2.9%, revised prior 2.8%
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  • Presidential spokesman Hinojosa said yesterday that the government will not privatise Petroperu, following reports the previous day that the company’s board had asked the government to put it under private management. Hinojosa said that this decision had come directly from President Boluarte. The request from Petroperu’s board earlier this week came as the company is reportedly seeking $2.2bn in funds to continue operating.
  • On the data front, March economic activity figures will be released at 1600BST(1100ET), with analysts expecting growth to slip to +0.8% y/y, from +2.8% in February. April unemployment data will also cross at 1600BST, with consensus there for a decline in the unemployment rate to 7.3%, from 7.7%.
    • Economic Activity YoY, March, est. 0.8%, prior 2.9%, revised prior 2.8%