Peru approves bailout for state-owned oil refiner

Peru approves bailout for state-owned oil refiner

Corporate & Sovereign Strategy Economy & Policy Debt Peru Energy Oil

Peru's finance ministry said Monday it agreed to provide Petroperú with a $1 billion contribution that will allow the state-owned oil refiner to "strengthen its financial capacity" and continue operations. "This way, the government supports the state company whose proper operation is essential to guarantee the supply of fuel and avoid price increases, two essential aspects that impact the economy of the population, especially those with fewer resources," the finance ministry said in a press rele

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