Sunday, 12 July 2020

Peru unveils phase-two economic reopening despite ongoing pandemic

The International Monetary Fund approved a US$11 billion credit line for Peru as the nation’s economy endures a slump that may be the deepest in more than a century.

(Q24N) Peru’s President Martin Vizcarra on Thursday announced the second phrase of its economic reopening amid the country’s ongoing COVID-19 pandemic, which registered 4,284 new cases of infection in the past 24 hours.

Vizcarra made the announcement after the council of ministers approved his presidential decree calling for the restart of economic activity as the lockdown continues.

The new phase, which kicks off on Friday, aims to see at least 80 percent of the country’s economy resume operation. Currently, the economy is operating at 50 percent capacity, which Vizcarra said was “not enough to sustain 100 percent” of the country’s needs.

“We want to raise it to 100 percent and then even see growth on top of that,” said Vizcarra.

- paying the bills -

The areas slated to begin operating include small and medium-size mining enterprises, feed-making for animals, alcoholic beverages and tobacco products, footwear production, printing, and medical tools manufacturing and repair.

Also getting the green light are auto and motorcycle sale, and the sale of sporting equipment and domestic goods.

In the services sector, legal and accounting firms, architecture and engineering companies, research and development, veterinary shops, hotels, car rentals, and private security firms will be able to resume work.

According to Vizcarra, this phase will recover at least 500,000 jobs that went idle after lockdown.

Peru has reported a total of 183,198 cases of COVID-19 infection and 5,031 deaths from the disease.

- paying the bills -

“The minister of health says 76,228 patients or citizens who have had the virus have already recovered … that accounts for 42 percent, a very significant figure,” said Vizcarra.

Q24N
Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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