BBVA: Private investment would only grow in 2023

Lack of clarity on early elections worries investors

The head of the Ministry of Economy and Finance (MEF), Alex Contreras, explained that the lack of decision on theit is a “concern” for foreign investors, according to what he was able to observe after holding meetings with 20 of them in the United States.

“For many investors, the coup d’état by Pedro Castillo and the social upheaval has been a stress test for the Peruvian economy,” he said.

He also commented that there is a second concern for investors: the risk of withdrawals from AFP funds.

“One concern is the possibility of new withdrawals from the AFPs. When an investor wants to sell a bond, the natural buyer is the pension funds. Additional withdrawals take away liquidity from the market,” he stated.

Despite the aforementioned and the social upheaval that the country has experienced in recent weeks, Contreras assured that economic activity is recovering and that the important thing is that abroad “they continue to trust Peru’s fundamentals.” In addition, he highlighted that there is a significant demand for bonds in case we had to go out to the international markets to issue them.


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