Peru Is Default-Swap Darling as Humala No Chavez: Andes Credit

For the first time in four years, the cost of insuring against a default by Peru is falling faster than for any Latin American nation as President Ollanta Humala, a former ally of Venezuela’s Hugo Chavez, embraces investors.

Peru’s five-year credit default swaps have fallen 36.4 percent in the past six months, more than the six larger Latin American economies. The nation’s dollar bonds yield an average