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PERU: Mining Minister Montero Says $5bn To Be Invested This Year

PERU
BulletPeruEM BulletEmerging Market News
  • Speaking at a mining event in Toronto, Energy and Mines Minister Jorge Montero said that $5bn will be invested this year in five projects in Peru, with another five projects worth $4.6 billion in the engineering stage. Montero said that the country’s portfolio of mining projects increased from 51 to 68 this year, reaching a value of $62.6 billion, according to local newspaper Gestion.
  • Today, Finance Minister Jose Salardi is scheduled to hold a press conference with foreign media at 1700GMT(1200ET).
  • The data calendar remains clear, with the next event of note being the BCRP monetary policy meeting next week. The further drop in CPI inflation in February - with the headline rate at its lowest since September 2018 and core inflation almost at the 2% target - keeps the door open to a further 25bp cut on March 13, although the BCRP is very near to the end of its easing cycle now.
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  • Speaking at a mining event in Toronto, Energy and Mines Minister Jorge Montero said that $5bn will be invested this year in five projects in Peru, with another five projects worth $4.6 billion in the engineering stage. Montero said that the country’s portfolio of mining projects increased from 51 to 68 this year, reaching a value of $62.6 billion, according to local newspaper Gestion.
  • Today, Finance Minister Jose Salardi is scheduled to hold a press conference with foreign media at 1700GMT(1200ET).
  • The data calendar remains clear, with the next event of note being the BCRP monetary policy meeting next week. The further drop in CPI inflation in February - with the headline rate at its lowest since September 2018 and core inflation almost at the 2% target - keeps the door open to a further 25bp cut on March 13, although the BCRP is very near to the end of its easing cycle now.