Wednesday, March 10, 2004

Taxes Rise: Dow Jones reports that "Peru's tax revenues rose 10.1% in real terms in the second month of 2004 over February last year, as collections of the value-added tax rose sharply," according to SUNAT. The story also stated that "the new financial services transactions tax had increased tax revenue in the first week of March," according to Enrique Arroyo (Peruvian Banking Association). P-PK is also quoted.

IFC & Yanacocha: Reuters reports that the International Financial Corporation "is considering selling part of its 5 percent stake in Yanacocha." Said an IFC official, "It is standard procedure for the IFC to reduce its equity positions at the opportune time as part of its overall equity portfolio management. The general practice is to sell at a fair market price." Archive: See the IFC's 2003 report on Yanacocha.

Southern Peru Copper: New Ratings reports Southern Peru Copper received an 'underperform' rating with target price is set to $35, according to analyst Daniel C Altman (Bear Stearns).

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