Fitch: Finances intact in Peru

The Republic of Peru's macroeconomic performance and strong fiscal and external finances have allowed the country to emerge from the global economic crisis with its credit ratings intact, Fitch Ratings said in a new report.

Going forward, however, the sovereign's structural credit weaknesses will take some time to improve, the agency said.

As Peru's recovery from the economic downturn continues, the sovereign's credit drivers will balance further improvement of its fiscal and external position against ongoing structural weaknesses.

These include a concentrated export base, high, albeit declining dollarization, low per capita income and weak social and governance indicators, Fitch said.

Confidence that the sovereign's fiscal and external balance sheets will continue to strengthen could be positive for Peru's creditworthiness, the agency added.

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