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Lima Halts Participation in Andean Stock Integration

The Lima Stock Exchange suspended a market integration arrangement with Colombia and Chile after Congress failed to modify a tax law that makes Peru less competitive, Lima Exchange President Roberto Hoyle said.

The Lima Exchange will hold talks with officials from the securities regulator, finance ministry and a congressional panel in a bid to pass a legal modification by the end of the year, Hoyle said today. Tax laws in Peru need to be passed in the previous calendar year before taking effect.