Peru is one of the countries with lowest financing needs for 2012 due to its strong fiscal position and low amortizations, according to global rating agency Fitch Ratings.
According to the report titled: “2012 Latin America Financing Needs: Stable Despite the Unfavorable External Environment,” Peru’s financing needs are below one percent of its Gross Domestic Product (GDP).
Peru is followed by Chile with two percent of its GDP and Uruguay with a little over two percent of its GDP.
Countries whose government financing needs are below the Latin American median of 4.2% of GDP include Chile, the Dominican Republic, El Salvador, Panama, Peru and Uruguay.
Moreover, Ftich Ratings added that both Peru and Chile “have significant fiscal flexibility to implement counter-cyclical fiscal policies and to respond to pressures from rising social demands”.
On Tuesday, Finance Minister Luis Miguel Castilla said Peru's gross domestic product likely expanded by close to 7.0% last year, up from a previous forecast of 6.8% growth. (Andina - South America News)
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