Is Peru becoming a banana republic?

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FDiH
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Is Peru becoming a banana republic?

Postby FDiH » Tue Jun 09, 2020 7:45 am

I am referring to the following articles in La Republica: https://larepublica.pe/politica/2020/06 ... ble-video/ and in en24.news: https://www.en24.news/2020/06/congress- ... olicy.html. Other publications:
https://gestion.pe/economia/canada-aust ... s-noticia/, https://elcomercio.pe/politica/peajes-e ... c-noticia/

On 4 June the embassies of France, Australia, Canada and Colombia wrote a letter to congress expressing their concern about the proposed (and passed?) change in law where Peru would no longer existing contracts - like the one concerning the toll road charges.

It is highly unuasual for countries/embassies to speak up this way and it shows that they are concerned that Peru will no longer honor agreements with regards to (foreign / commercial) investments. All the credit Peru has build in the last few decades will be gone. The long term inpact will be greater than the economical effects of Corona.

Is Peru becoming a banana republic?

The letter in question:

Image


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windsportinperu
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Re: Is Peru becoming a banana republic?

Postby windsportinperu » Tue Jun 09, 2020 7:47 pm

Peru must honored its previous Agreements

It is only a bad decision of the Congress, but neither Vizcarra nor the rest of the Ministers are part of it

The Government of Vizcarra considers appealing against it. This is unconstitutional

https://www.elperuano.pe/noticia-tc-ver ... 97037.aspx
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Alan
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Re: Is Peru becoming a banana republic?

Postby Alan » Tue Jun 09, 2020 8:22 pm

It is a wierd case. I find it really, really hard to understand why the embassies side-stepped the Peruvian Foreign Affairs office and sent the letter directly to Congress. I mean, they must know the protocol, and the problems that breaking protocol would cause! What they have achieved is to throw more light on the way Congress is preparing to break contracts -- with all the economic and legal implications this will cause. Why they decided to side-step the Ministry is anyone's guess.
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Donnie123
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Re: Is Peru becoming a banana republic?

Postby Donnie123 » Wed Jun 17, 2020 12:52 pm

it a only will be suspend for a few month due cov19 as many country have done. I think government must created a law for emergencies like this: when all companies private and public put on Commandment to the president. All companies that like to make business with Peru must have that law in theirs contract. Now without that law everyone run in different ways and to get up fast would be difficult.

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