Saturday, August 27, 2005


2006 Budget: Reuters reports that Peru's 2006 budget, "due to be presented to Congress next week, will be about 52 billion soles ($15.9 billion), some 4% higher than this year's 50 billion soles package," according to an interview with Prime Minister Pedro Pablo Kuczynski on RPP radio. NOTE: "Peru's mining- and fishing-based economy, which Kuczynski said this week was now worth $75 billion, is expected to beat official projections of 5.5% growth this year. Kuczynski has quoted national statistics agency INEI as saying growth could be more than 7%." ALSO: "He said budgetary pressures were easing "because we have a big saving in public debt due to the refinancing we did with the Paris Club."

Arresting Jack Welch: The Miami Herald (using the Financial Times, Hal Weitzman) reports that the Andean Trade Pact runs into hurdles when "a judge in Lima ordered the arrest of the current and former General Electric chief executives this month, and of 24 other GE employees. They are accused of breaching a contract with Guillermo Gonzales, a local businessman who says he invested $10m in offices and an assembly plant in the 1990s." NOTE: "While GE says it is confident the case will be dismissed, foreign investors in Peru often complain about biased or inconsistent court judgments and a lack of judicial independence that makes it difficult to enforce contracts." The report gets ahead of itself (particularly as it is reprinted in the Miami newspaper) when it ‘reports’ that "Jeb Bush, the governor of Florida and brother of the US president, arrived in Lima this week at the head of a trade delegation." Governor Bush did not travel to Peru. SEE ALSO: ‘Peru judge orders GE's Immelt, Jack Welch arrested’, August 9, 2005, Reuters.

Trans Amazon Highway: Mongabay reports with photographs on the deforestation of the Amazon. NOTE: "Yesterday Brazil announced that 3,515 square miles (9,103 square kilometers) of Amazon rainforest were destroyed between August 2004 and July 2005, a marked decline from the 7,229 sq. mi. (18,723 sq. km.) in the same period a year earlier. NOTE: The growth of agriculture in the Amazon has necessitated the improvement of roads and highways in the region. The Brazilian and Peruvian governments are currently paving a road that leads from the heart of the Amazon to ports in Peru. Scheduled to be completed by June 2006, the road has already spurred deforestation by settlers seeking lands for subsistence agriculture. SEE ALSO: 'Trans Amazon Highway' in August 14, 2004's Peruvia.


TEAM w/o Solano: Reuters reports that Midfielder Nolberto Solano has been left out of Peru's squad for next month's World Cup qualifier away to Venezuela, increasing speculation of a row between himself and coach Freddy Ternero. Solano was left on the bench for the match at home to Uruguay last June, when the 0-0 draw virtually ended Peru's chances of qualifying for their first World Cup since 1982."

Gold with Plexmar: Plexmar Resources offered a press release to announce the adjustment of their price of its private placement. "The financing expects to close on or around September 20th 2005. The funds will be used to explore the gold projects in Peru and for general working capital."

Preaching in Trujillo: The York Daily Record reports on a group of Southern Baptists who traveled to Lima and Trujillo recently. "The team was able to help the Baptist Seminary in Trujillo with educational supplies. The Rev. Alberto Hernandez was the coordinator of the mission and the evangelistic meetings in Peru."

Weblog Commenting and Trackback by HaloScan.com

This page is powered by Blogger. Isn't yours?