Peru’s 100-Year Bond Sale Shows Markets Can Defy Political Chaos
- Political crisis led to three presidents in two-week period
- Peru joins Argentina and Mexico in selling 100-year bonds
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Peru, a country that’s on its third president this month, convinced investors that its strong financial institutions would carry the day.
The government sold $4 billion of notes Monday, including securities coming due in 100 years. The bond sale comes just days after nationwide protests in the wake of Martin Vizcarra’s impeachment, which ultimately sent the sol to a record low and led to the resignation of his successor Manuel Merino.