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The IMF published a staff report and board statement approving Peru's request for a Flexible Credit Line arrangement. The document says Peru faces recession from the COVID-19 shock and remains exposed to external tail risks such as a prolonged outbreak hurting trade and financial flows.
The IMF backing gives Peru a financial buffer that supports the sol and domestic demand, which limits pressure on fishmeal and other Peruvian export flows. Its effect on feed commodity prices is modest.
ideas.repec.orgListed: International Monetary Fund RegisteredMay 29, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
