...August 11, 2020 While the pace of new COVID-19 cases in Peru has slowed, the country's death rates have been among the highest in the world. The Peruvian government responded early to the pandemic by implementing one of the most stringent lockdowns in the region, due to the limited capacity of its health care system. A phased reopening of the economy began in June, and currently almost all activities are permitted, with the exception of some, such as tourism and events that gather many people. We affirmed our sovereign credit ratings on Peru (foreign currency: ###+/Stable/A-2; local currency: A-/Stable/A-2) on May 4, 2020, and maintained the stable outlook. Since then, we have adjusted our growth forecast downward for this year, following worse-than-expected economic contraction in April and May, although we expect the rebound in 2021 to be strong. Meanwhile, a stimulus package set in motion by the Vizcarra Administration, already large at the onset of the pandemic, was recently expanded....
