Peru’s Debt Outlook Raised

Peru’s long-term foreign currency debt rating outlook was raised to positive from stable by Standard & Poor’s, which cited improved expectations for medium-term economic growth. Peru’s economy, which has posted 46 months of growth, is diversifying exports from raw materials such as ore and fishmeal to more finished products, including textiles and chemicals, as trade grows with China, the country’s second-biggest export market. Peru´s GDP has grown an average of 4.5 percent a year since 2002 while budget deficits have been around 1 percent of GDP.