Despite the global financial crisis, Peru's economy will continue growing due to its ample foreign exchange reserves, an Asia Pacific Economic Cooperation Forum (APEC) official said Monday.
President of APEC's senior finance officials Javier Kapsoli made the remarks in a speech at a preparatory meeting that opened Sunday ahead of the 15th APEC Finance Ministerial Meeting to be held in Trujillo, 550 km northwest of Lima.
"We plan to invest 35 billion U.S. dollars in different sectors for the coming three years," Kapsoli said, noting that the participating financial ministers would analyze strategies and plans to tackle the financial downturn.
"Peruvians should remain calm, because our bank mobility levels and public debts are low and we have adequate foreign exchange reserves," Kapsoli said.
Peru has proposed two agendas for the meeting, namely reform of the capital markets and fiscal budgets, to fulfill the expectations of the meeting and benefit citizens, Kapsoli said.
Peruvian Economy and Finance Minister Luis Valdivieso will preside over the 15th Finance Ministerial Meeting scheduled for Nov. 5-6 to discuss the development of the Asia-Pacific region.
Source: Xinhua
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