Top News from Peru

Top News from Peru: August 30- September 5


Peruvian bank to boost loans to women micro entrepreneurs

Women entrepreneurs in Peru will have more access to microfinance loans thanks to Banco de la Microempresa (Mibanco) through the syndicated loan program of the Inter-American Development Bank. This groundbreaking program offers the equivalent of US$36 million in Peruvian soles to micro entrepreneurs. According to the article, this is groundbreaking for two reasons: “It is the first B loan carried out in local currency and the first B loan syndicated entirely to socially responsible investors.” It is also the first loan obtained by a Latin American microfinance institution in local currency. Other doors have opened to Mibanco, including access to funds for an ambitious new program targeting women called Grow my Business, and a $3 million grant to train female entrepreneurs.

Waters of Amazon River recede to historic low levels in Peru

The Amazon River in Peru is now at 105.97 meters above sea level, which is the lowest level ever recorded.  The previous low was 106.46 meters, making the current low a record by 50 centimeters. Officials are expecting a negative impact on local transportation and commerce as levels are predicted to drop another 20cm over the following days. However, the rainy season will come in a couple weeks and will launch the slow recovery of the river.

Cajamarca food fair closed deals worth US$1.1 million

The Ministry of Agriculture announced that the deals closed at the 1st Andean Food Fair in Cajamarca on August 27-29 equaled 3 million soles, or US$1.1 million. This number includes deals closed from agriculture producers from 12 departments in Peru, mainly Cajamarca, Lambayeque, La Libertad, Ancash, Lima, Junin, Ayacucho, Arequipa and Puno. Products at the fair included native potatoes, coffee, trout, dairy products, aromatic and medicinal plants, liquors, and fresh fruits and vegetables. Buyers included wholesale companies, such as Sodexo; hotels, such as Country Club; and restaurants.$1-1-mln

New law in Peru may set President Fujimori free, say lawyers

Peru’s former president who is in jail because of two massacres that occurred during his presidency in 1991 and 1992 may be set free due to a new law.  Former president Alberto Fujimori was found guilty of human rights violations in 2009 and was sentenced to 25 years in jail. However, the current government just passed a law called the Decree 1097 which could be used to say that crimes committed before November 2003 when Peru joined the international convention on crimes against humanity cannot be tried, and would therefore question the legality of Fujimori’s sentence. One case has already been dismissed because of the decree, that of El Frontón, where 100 inmates were murdered in El Frontón jail in 1986.

Earthquake log:
September 2: 4.4 on the Richter scale in Tumbes region in the north coast
September 2: 4.9 in Tarapoto
September 4: 4.8 with its epicenter in the sea shook the coastal city of Pisco 100km away


Fire burns much of new brown sugar plant

In a fire that many suspect was started by political enemies of the owner, a brown sugar plant lost 25% of its infrastructure. It took nearly 300 people to stop the flames that were encouraged by the wind, the lack of water and firefighters, and the darkness of the nights. The plant had just opened on July 1 and employed 15 people. The owner had even received death threats to his cell phone and expressed shock over the fire, saying that the plant shouldn’t be offensive to anyone.

Candidate acknowledges corruption in the regional government

A candidate for the Regional President, César Trelles Lara from the Aprista party, publicly acknowledged the corruption of regional government officials and attempted to explain the act as part of political etiquette. He called it a permanent illness and acknowledged that there are many types of corruption, such as the kind done behind the computer and the kind done by slacking off.

One of Lara’s most important proposals is to create a bill that will form a regional public safety institution with the power to make decisions, unlike other similar institutions.  He says that eventually the government should earmark 10 million soles for public safety because he finds the current small number of policemen to be insufficient in protecting the citizens of Piura.


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