Fin Min: CAF approved US$500 million credit line for Peru

Economy and Finance Minister Oscar Graham on Wednesday highlighted that the Development Bank of Latin America (CAF) approved a US$500 million contingent line of credit for fiscal sustainability and environmental issues in Peru.

"It is based on what the public policy matrix is, to ensure fiscal sustainability and ensure the predictability of fiscal accounts," he affirmed.

The Cabinet member pointed out that this credit line has a second component which is related to sustainable development, biodiversity, leverage of biobusiness, recovery plan for the illegal mining impacts, and a pilot plan to formulate the project to combat illegal mining.

Likewise, he highlighted the financial soundness of the State-run Banco de la Nacion (Bank of Nation).

"In an informative way, the Council of Ministers today presented the financial situation of Banco de la Nacion, which has been the subject of observations by the Superintendence of Banking, Insurance and AFP (Pension Fund Administrators); what was mentioned at today's Council of Ministers (session) is the financial soundness that Banco de la Nacion has," Graham affirmed.

"It has very good liquidity and solvency ratios, low delinquency ratios; besides, the plans under implementation were also shown, precisely those referring to the observations made by the Superintendence of Banking, Insurance and AFP," he added.

In this sense, he pointed out that Banco de la Nacion will continue its management of public treasury in an efficient manner, which is its main duty.

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