Big-Spending Congress Hinders Peru Plan to Curb Debt, Fitch Says
- Lawmakers’ proposals seen jeopardizing fiscal outlook
- Debt burden surges as nation spends on stimulus measures
Photographer: Cris Bouroncle/AFP via Getty Images
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Pressure on Peru’s government to boost spending on everything from pensions to public sector wages risks undermining its plan to rein in debt, according to Fitch Ratings.
The economic devastation caused by the coronavirus lockdown has fueled spending demands at a time when public debt is already soaring, said Fitch analyst Kelli Bissett-Tom in an interview.