Peru’s Central Reserve Bank (BCR) President, Julio Velarde, ruled out the possibility that the election campaign period in Peru could affect the national economy performance in following months.
"The electoral issue in Peru will not affect the economic activity over the next months. A pause might take place, but it will not have a significant influence on it," said the economist, who a few months ago was crowned Central Banker of the Year 2015 by The Banker magazine, a Financial Times publication.
Velarde is currently attending the Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), which will run through April 19.
The event is the prelude to the Annual Meetings of the WBG/IMF Boards of Governors, scheduled for October in Lima, Peru.
Velarde believes it is very important that the Congress of the Republic passes the Expropriation Law for Large Projects, which would ease the process of investment and infrastructure development.
“This way, the discussion will not focus on which land may be expropriated, but on the cost to extend a road,” he stated.
On the other hand, Velarde warned the reduction in oil prices has not been fully transferred to the fuels consumed over the country.
“This is taking money from people’s pockets, because this could be one of the most effective reactivating measures, given the fact that liquidity is injected directly into the people to buy things,” he pointed out.
(END) JCC/JJN/RMB
Published: 4/16/2015