• Business groups are speaking out against a potential bailout of state-owned Petroleos del Peru SA, as the government is reported to be mulling a rescue package for the company.
  • Peru’s National Society of Industries released a statement whereby they noted a bailout of Petroperu does not generate the confidence needed to stabilize the economy, arguing instead that Petroperu should be privatized.
  • Furthermore, the Lima Chamber of Commerce said it opposed new capital injections, according to a separate statement, adding that more financial support for Petroperu could worsen the fiscal situation and divert resources from more productive use elsewhere.

PERU: Business Groups Caution Against Fiscal Implications of PetroPeru Bailout

Last updated at:Jan-17 13:29By: Jack Lewis
  • Business groups are speaking out against a potential bailout of state-owned Petroleos del Peru SA, as the government is reported to be mulling a rescue package for the company.
  • Peru’s National Society of Industries released a statement whereby they noted a bailout of Petroperu does not generate the confidence needed to stabilize the economy, arguing instead that Petroperu should be privatized.
  • Furthermore, the Lima Chamber of Commerce said it opposed new capital injections, according to a separate statement, adding that more financial support for Petroperu could worsen the fiscal situation and divert resources from more productive use elsewhere.

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