Peru's economy is booming and yet they need a LOAN FOR DISASTERS?
Where did all the money go? You would think that from all the imports and exports (taxes) that they would not have a financial deficit in the gov't. Peru still dependent on international funds?
The funds will never make it to the people who need it most
Majority of the funds for ICA's disaster (Earthquake ) Never made it to the people that needed it most.
These fund will be slated for corruption.
Exactly, corruption right through.
I'll add the IBRD is primarily an investment bank (a division of the World Bank) deeply involved in developing countries, one of its most important functions is to provide "development" financing, now this is just the PR
since it was formed basically to promote private foreign investment. So, this is just another way for that speculative 'hot money' to take hold of the Peruvian economy. I'd love to learn about the conditionalities under which this loan was imposed on the Peruvian government (some sort of SAPs most likely). No doubt some high level officials, Garcia included are getting their cut. What is interesting though is the fact the IBRD only lends to creditworthy countries whose per capita income falls below a stipulated level. This speaks a lot for the reality of the so called "boom".