Friday, February 20, 2004

P-PK's Changes and Recusals: Bloomberg reports that P-PK, the new Economy and Finance Minister, has changed positions on an impending bank tax and now believes that "the tax is needed." Disappointed is Credicorps' Benedicto Ciguenas. Credicorp owns Peru's biggest bank, Banco de Credito.
In a separate story, Bloomberg also reports that P-PK is resigning from all Board of Directors positions including Tenaris SA, (its parent company, Techint Argentina, is building an $800 million natural gas pipeline in Peru), Southern Peru Copper Corp., and is "taking a leave" from running the Miami-based Latin America Enterprise Fund. The piece ends with a quote from Congressman Jorge del Castillo (APRA).

Toledo's Support: MercoPress reports that Mercosur has offered its "full support to Peruvian president Alejandro Toledo." The measure was "ratified by Eduardo Duhalde, president of Mercosur’s Commission of Permanent representatives who this week visited Mr. Toledo in Lima and had a long meeting with the Peruvian president." It also acknowledged the new "consensus" cabinet.

Nasca from Space: The European Space Agency reports on their spacecraft, Proba, which has taken photographs of the Nasca lines from an altitude of 600 km. "The resolution is too low to make out the animal figures although the straight Nasca Lines can be seen faintly." Also seen from space: the Pan-American Highway and the Ingenio River.

Macro/Micro Econ:
- Reuters on Telefonica Moviles Peru.
- BNAmericas on BBVA Banco Continental's profits.

People: AdWeek runs a profile on Jorge Percovich, "the new managing director of MPG International." Percovich is the son of former Prime Minister Luis Percovich Roca.

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