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Peru Targets LM: Finance Minister

Jan 30, 2013

Peru is poised to spend a “minimum” of $4bn to prepay outstanding loans to multilateral creditors, Luis Miguel Castilla the country’s finance minister, tells LatinFinance. “Our focus is on prepaying expensive debt and on feeding the fiscal stabilization fund,” he says. Castilla says Peru is not planning to issue fresh debt in the international capital markets as the country’s needs “are limited this year.” Liability management efforts would focus on multilateral debt rather than repurchasing global bonds because of today’s favorable pricing...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management