Peru plans bond sales to finance ballooning fiscal deficit, minister says 

Peru, the world’s no. 2 copper exporter, plans to issue up to three sovereign bonds this year to finance its ballooning fiscal deficit after economic growth edged above forecasts last year, Economy Minister José Arista told Reuters. 

Why it matters 

Peru is one of South America’s most economically stable countries despite regular political upheaval, but a deficit that widened to 3.6% of gross domestic product (GDP) last year – its highest since 1992 excluding pandemic years – threatens its credit rating and could push up financing costs.