Fitch on Tuesday upgraded Peru’s debt rating outlook to “stable” from “negative,” while maintaining the country’s sovereign rating at “BBB.” amid strong policies that have supported economic recovery this year after a recession and preserving broad macro-financial stability.
“In Fitch’s view, political uncertainties remain high, however, and restrict the recovery of private investment, “We expect this to keep growth relatively weak at around 2.5% over the next two years,” the agency said in a report.
“Fitch believes that fiscal management has weakened and that fiscal goals could continue to be missed, “but despite this gap, it is projected that the debt with respect to GDP will remain relatively stable at low levels,” he added.
According to the rating agency, Peru’s “BBB” grade is also supported by solid external liquidity, a history of macroeconomic stability and a disciplined policy framework.
