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Fitch revises Peru view to negative
Fitch Ratings said it revised the outlook on Peru’s long-term foreign- and local-currency issuer default ratings to negative from stable.
“The negative outlook reflects Peru’s weakened government balance sheet, deterioration of policy predictability as a result of congressional passage of populist measures in recent months, and Fitch’s expectation of continuing challenges to reduce fiscal deficits to levels consistent with debt stabilization. The weakening of political cohesiveness and institutions since 2016 could undermine the capacity of the next government to implement wide-ranging fiscal, political, and productivity-enhancing economic reforms,” Fitch said in a press release.
Also, Fitch affirmed the long-term foreign and local-currency IDRs at BBB+.
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