siguenos en facebook Canal de youtube siguenos en Twitter siguenos en Google+ Sígueme en Likedin

Tuesday, January 14, 2020

► PeruTrade surplus stood at US$669 million in Nov 2019

Peru's trade balance recorded a US$669 million surplus in November 2019 —the second-highest figure of the year— the Central Reserve Bank (BCR) has reported.

► PERU Non Traditional exports up 7.6% in Nov 2019 

"Thus, it has accumulated a US$4.855 billion trade surplus in the first eleven months of 2019," the BCR stressed.

► PERU Country risk at 107 basis points

It must be noted exports totaled US$3.904 billion in November 2019.

"In said month, traditional exports reached US$2.670 billion, while non-traditional ones amounted to US$1.224 billion. These last figures experienced a 7.6% increase over the same month last year, mainly due to greater foreign sales of farming and fishery products," the Central Reserve Bank explained.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, 153%

Furthermore, it affirmed that imports totaled US$3.235 billion in November last year.

"In that month, purchases of inputs and consumption goods decreased, whereas capital goods acquisitions increased," the issuing entity pointed out.

► Peru oil production to hit 100,000 barrels a day by 2023

Peru's oil production is expected to hit 100,000 barrels a day by 2023, taking into account the recovery of the industry in the last year, Energy and Mines Minister Juan Carlos Liu projected on Friday.

► Mining investment to continue increasing in 2020

► PERU Central Bank keeps benchmark interest rate at 2.25%

"Oil production has recovered (…) our goal is to reach a production of 100,000 barrels a day by 2023," he told El Peruano official gazette.

"A few days ago, we spotted a figure that has not been seen for several years, achieving a production of 63,000 barrels per day, but the average is 53,000 barrels a day," he added.

► Peru's 2019 inflation within  target range

In this line, Liu commented that the search for this hydrocarbon resource in new areas —such as Block Z-64, located off the coast of Tumbes— is expected to increase the production.

"A ship will arrive to carry out the first deep-sea drilling activities, respecting the environment and using the highest security measures, of course, in an attempt to prospect and locate reserves in an area that had not been explored before," he explained.

"The ship will report the results of such drilling within 30 days," the government official added.

► PERU Non Traditional exports up 7.6% in Nov 2019 

In addition, he noted the presence of British Petroleum (BP), the sixth-largest oil producer in the world, which came to Peru to carry out technical explorations.

"It will carry out explorations using non-invasive techniques for prospecting hydrocarbons in the continental shelf zone, trying to increase our reserves in such area," the minister explained.

PERU Central Bank keeps benchmark interest rate at 2.25%

(ANDINA) The Board of Directors of the Central Reserve Bank of Peru (BCR) decided to maintain the reference at 2.25% expecting year-on-year inflation to be around 2% over the forecast horizon, with a moderate downside bias due to the possibility of a lower-than-expected increase in domestic demand.

►Peruvian Blueberry exports break record in Nov 2019

Likewise, the financial entity indicated that inflation was 0.21% in December. Consequently, year-on-year inflation remained at 1.9% in December 2019, while monthly inflation excluding food and energy stood at 0.34% in December, so the year-on-year figure also remained at 2.3%. 

On the other hand, BCR pointed out that the one-year ahead expected inflation remained at 2.2% last December.

► Peru's 2019 inflation within  target range

According to the issuing entity, the weak performance of primary industries and General Government investment in 2019 was attenuated by the activity in non-primary industries.

"Business condition expectations as of December remained stable with respect to November, while economic activity indicators point to a gradual closure of the output gap," Peru's Central Reserve Bank stressed.

► PERU Non Traditional exports up 7.6% in Nov 2019 

Furthermore, it underlined that global growth risks from trade tensions have attenuated, although the impact of the recent geopolitical events on international energy prices is still uncertain.

The BCR Board affirmed that it pays close attention to new information on inflation and its determinants in assessing future changes in the monetary policy stance.

At the same session, the Board also decided to maintain the interest rates on BCR off-auction credit and deposit operations in domestic currency with financial entities.

► PERU Country risk at 107 basis points

It arranged: overnight deposits of 1% per year, as well as direct security/currency repo and rediscount operations: i) 2.80% per year for financial entities' first 10 operations over the last 12 months; and ii) the rate fixed by the BCR Monetary and Foreign Exchange Operations Committee for operations other than financial entities' first 10 operations over the last 12 months. It also decided that Dollar swaps should have a fee equal to a minimum annual effective cost of 2.80%.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, 153%

Finally, the BCR Board's next monetary policy session will take place on February 13, 2020.

► Peruvian Blueberry exports break record in Nov 2019

(Andina) Peruvian fresh blueberry exports broke records in November 2019, becoming the product with the second-largest shipments by totaling US$733 million and expanding 64% over the same period in 2018, the Association of Peruvian Farming Producers (AGAP) reported on Friday.

► Peru's 2019 inflation within  target range

This place was previously occupied by grapes.

AGAP affirmed that Peruvian Hass avocados still led the list with shipments worth US$743 million (+2.8%), not to mention the outstanding performance of grapes (US$599 million; +28%), and citrus fruits (US$205 million; +3%).

► PERU Non Traditional exports up 7.6% in Nov 2019

As for mango and organic banana exports, both products posted a slight decrease with shipments of US$201 million and US$140 million, respectively.

Peru's fresh fruit subsector grew 17.3%, thus reaching US$2.739 billion, while the vegetable subsector registered an increase of 12.57%, amounting to US$475 million.

► PERU Country risk at 107 basis points

Within this framework, asparagus stood out (US$349 million; +8%), followed by onions (US$76 million; +30%), peas (US$30 million; +28%), and garlic (US$14 million; +41%).

The main destination markets —for both subsectors— were North America (US$1.384 billion), Europe (US$1.298 billion), and Asia (US$339 million).

Likewise, coffee shipments amounted to US$548 million (-9%) and those of cocoa reached US$269 million (+12%).

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, 153%

As at November 2019, the agriculture sector grew 7% totaling US$6.130 billion, and remained the country's second-most important exporting sector.

► Peru's 2019 inflation within target range

(Andina) Peru's annual inflation rate was 0.2% in December and 1.9% in the year 2019, within the Central Reserve Bank's target range (1-3%), the issuing entity has reported.

► PERU Non Traditional exports up 7.6% in Nov 2019 

In December 2019, the price rises with the highest contribution to inflation were observed in urban fares (1.1%), national transportation (24.1%), chicken meat (1.9%), and tangerines (9.7%).

On the other hand, the price decreases —which showed the greatest negative contributions to inflation— were those of fish (-2.6%) and fresh fruits (-3.8%).

► PERU Country risk at 107 basis points

Furthermore, inflation —excluding food and energy— showed a monthly rate of 0.34% as a result of the evolution of goods (0.03%) and services (0.52%), registering a variation of 2.3% in 2019.

Inflation expectations within target range

Economic agents' inflation expectations for 2020 and for 2021 remain within the target range of 1–3%, according to the BCR Survey on Macroeconomic Expectations conducted in December 2019.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, 153%

Inflation expectations for this year are between 2.2% and 2.4%, while the inflation rates expected for 2021 remain between 2.3% and 2.5%.

► PERU Non-traditional exports up 7.6% in Nov 2019

(Andina) Peru's non-traditional exports reached US$1.224 billion in November 2019, a 7.6% expansion over the same period in 2018, the Central Reserve Bank (BCR) has reported.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, up 153%

"This growth was explained by higher shipped volumes (6.6%) —mainly of farming, fishery, and iron-steel products— and due to increased average prices," the entity underlined.

Thus, non-traditional product sales abroad totaled US$12.403 billion between January and November 2019, which represented a growth of 3.5% compared to the similar period in 2018.

► Peru country risk at 107 basis points

Likewise, the issuing entity pointed out that —in the first eleven months of 2019— the increased sales of avocados (+2.6%), blueberries (+53.6%), grapes (+10.1%), frozen giant squid (+54.1%), and asparagus (+3%), among other products, were registered.

Peru's non-traditional exports value registered a rise of 4.4% in the last 12-month period that ended in November 2019. Compared with other Latin American countries, it meant the highest growth among the main countries in the region.

► Mining investment to continue increasing in 2020 

► Peruvian Country risk at 107 basis points

(Andina) In the week of December 31-January 8, Peru's country risk indicator —measured by the EMBIG Peru spread— remained at 107 bps, the Central Reserve Bank has reported.

► Mining investment to continue increasing in 2020

However, in the same period, the EMBIG LatinAmerica spread rose 3 bps to 349 bps within a context of geopolitical tensions between the United States and Iran.

Interbank interest rate

On January 8, the interbank interest rate in Peruvian Soles showed an annual rate of 2.25% and this rate in U.S. Dollars registered 1.75%.

On the same date, the 90-day corporate prime rate —the interest rate charged by commercial banks to lower risk businesses— in Soles was 3.29%, while the prime rate in Dollars recorded 2.69%.

Moreover, the interest rate on mortgage loans in Soles stood at 7.9% percent, whereas this rate on loans in Dollars was 6.9%.

Monday, January 13, 2020

► Joker surpassed The Dark Knight in Oscars Nominations 2020

Joaquin Phoenix as Joker. Photo: Warner Bros

Until last Sunday "The Dark Knight", a movie based on Batman, was the superhero film with most Academy Awards nominations in history.

Twelve years later that would change at the Oscars2020, which announced its nominees this Monday, January 13.  "Joker" was highlighted in the announcement.

"Joker", directed by Todd Phillips, got 11  Oscar nominations; including Best Actor, Best Movie and Best Soundtrack. In comparison "The Dark Knight" (2008) got eight Oscar nominations including Best Actor for Heath Ledger performance, who also played "Joker."

"Joker began as an idea, an experiment really— could we take an “indie approach” to a studio film by inverting it into a character study to reflect the world around us? Explore what we’re seeing and feeling in society, from the lack of empathy to the effects of the absence of love. I am deeply honored by the overwhelming recognition of the Academy this morning, and I want to thank the genius that is Joaquin Phoenix, and all my incredible collaborators. We are beyond humbled that our peers in the filmmaking community have embraced the film and its message" said Todd Phillips, director of “Joker” on Instagram.

Oscar 2020: “Joker” nominations

  • Best film
  • Best Actor (Joaquin Phoenix)
  • Best director
  • Best Adapted Screenplay
  • Best edition
  • Best cinematography
  • Best costume design
  • Best sound mixing
  • Best sound editing
  • Best soundtrack
  • Best makeup and hairstyle

Directed by Todd Phillips, “Joker” (2019) follows the story of Arthur Fleck (Joaquin Phoenix), a man who receives treatment for his mental difficulties. He, after an outburst of anger, gets carried away by a spiral of violence where there is more than one culprit.

This is the second prize to which "Joker" is nominated in 11 categories. The same happened a few days ago with at BAFTAs, where Joaquin Phoenix also competes for the prize of Best Actor.

After "Joker," three films were nominated for 10 awards each. These are "The Irishman", "Once Upon a Time in Hollywood" and "1917"; directed by Martin Scorsese, Quentin Tarantino and Sam Mendes, respectively. Meanwhile, "Jojo Rabbit" by Taika Waititi, "Little Women" by Greta Gerwig, "Marriage Story" by Noah Baumbach and "Parasite" by Bong Joon-ho were nominated each one to six nominations.

Saturday, January 11, 2020


When it comes to talk about job hunting, we necessary need to talk about personal branding. 

But, personal branding is not only the clothes you wear or the grafic design you use in your collaterals, or personal cards.

It is about the way you knit your personal relations and how can you make them deep and trustful. 

So at the end of the day we are talking about emotional intelligence. 

I came across with an article written by Anita Martel, which I would like to share with you guys; as a cornerstone of a wider topic I'd like to talk along this year: personal branding.

(*) Anita Martel
Having an up-to-date emotional intelligence assessment has become one of your greatest assets in your job search strategy. Why? Because by doing so you’ve reduced the risk the hiring manager has in hiring YOU.

An emotional intelligence assessment gives you concrete and valid evidence that complements your resume and provides tangible proof to a potential employer. 

Hiring managers are risk averse, and by making their job virtually risk free you have just given yourself a leg up on the competition. 

The added plus to having your emotional intelligence assessed is that you can speak with complete confidence during an interview. 

You gain valuable insight that you can use to your benefit. By knowing your strong points, you can further build on them and use them to position yourself advantageously. 

In addition, by knowing your weaker points, you can specifically concentrate on improving them. It is strongly recommended that you retake the test at 2- to 3-year intervals to reevaluate your progress over time. 

In the workplace, an ever-increasing number of employers are choosing to use emotional intelligence assessments to ensure a greater fit of potential and current employees within their company culture. 

It is becoming more and more obvious to today’s companies that their work force can no longer be managed in the traditional style. That is, today’s employee is no longer just a part of the puzzle that completes the big picture but has become the process with which to do it. 

Organizations are now filled with highly educated knowledge workers that as a team have become this process. 

This is in essence what will give one company a distinct competitive advantage over another, and today’s companies are specifically looking for that edge. 

On the personal side of things, none of us live in a vacuum, and we can clearly see how our personal life always ends up trickling into our professional life at one time or another. 

We develop relationships with everyone around us. How well we manage those relationships can have a significant impact on both our professional as well as our personal lives. 

Having vibrant, healthy relationships has become the core competitive advantage in today’s workplace. So what exactly is emotional intelligence? 

“Emotional intelligence is the unique repertoire of emotional skills that a person uses to navigate the everyday challenges of life” (Multi-Health Systems, 2008). 

It is the awareness of one’s emotions and the ability to use those emotions to strengthen one’s performance. Simply put, emotional intelligence is often referred to as common sense or street smarts. 

Research has demonstrated that an individual’s emotional intelligence is often a more accurate predictor of success than that person’s IQ. 

No matter how intellectually intelligent someone is, their success is still governed by how well they can communicate their ideas and interact with their peers. 

As opposed to IQ, which is said to be set early on in life, your emotional intelligence can be substantially strengthened and developed with appropriate training and thus can be improved considerably. 

Since emotional intelligence is elastic, those who lack it can gain it, and those who have it can augment and develop it further. Many emotional intelligence tests exist on the market and all claim to be the best.

I have researched a great number of them and keep coming back to one in particular. The BarOn EQ-I assessment is by far the most comprehensive on the market. 

It assesses interpersonal and intrapersonal skills, stress management, adaptability, and general mood with many other areas within these categories. 

Several different reports can be generated including a leadership one, and its versatility allows individuals to track and work on their emotional intelligence. 

A company wanting to have an accurate predictor of best performers or a comparison/fit for potential employees can also use it. 

It is used worldwide, can be produced in several different languages, and has been scientifically validated.  It can be taken online and completed in about 40 minutes.

You receive a clear and easy-to-read written interpretation of your results, recommendations on what to do to increase your emotional intelligence, and a debriefing session with a certified administrator. 

Remember, you are creating your career portfolio and whatever you can add to it that will put you a step ahead of the competition is essential. 

All good career portfolios include a summary resume, a thorough detailed resume, a number of references, and an up-to-date emotional intelligence assessment.

*Anita Martel is a partner of Perry-Martel International and a Certified BarOn EQ-I administrator. She is devoted to helping leaders, individuals, and teams increase their effectiveness and attain their full potential. For more information or to take the test, e-mail

Friday, January 10, 2020

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, up 153%

Peruvian exports to Canada reached US$2.321 billion between January and November 2019, up 153% compared to the same period a year earlier, the Association of Peruvian Exporters' Global Business and Economy Research Center (Cien-Adex) has reported.

Cien-Adex noted that sales to Canada saw strong growth, while overall exports fell 4.3% in the first 11 months of 2019.

According to the center, this outcome was driven by increased demand for gold. Such mineral expanded 345%.

However, there are remarkable cases such as the aviation fuel (887%), jewelry (104%), strawberries (95%), and grapes (29%) to mention some products with a significant dollar FOB value.

Cien-Adex Director Carlos Gonzalez recommends a careful study of these cases because they may provide evidence about the factors required to strengthen the product diversification strategy, which could be applied to generate a new exports shock that revives the country's economy.

"Growth is remarkable. In the search of new destinations by entrepreneurs, Canada casts interesting lights that result in a series of products with great potential and possibilities," he said.

Gonzalez explained that a long list of new items is seen in the North American nation.

For example, 331 items were recorded worth less than US$1,000 between January and November 2019. They included rugs, drills, clothing items, shampoo, cochineal carmine, blankets, wine, among others.

Gonzalez said that the investment in the mining sector is one of the main drivers of growth in exports to Canada, as well as the strategic alliances with foreign companies, which help refine and ship aviation fuels.

► Mining investment to continue increasing in 2020

In 2019, investment in mining projects amounted to around US$6 billion. Of note were cooper projects such as Quellaveco (nearly US$1.2 billion accumulated in the last twelve months), Mina Justa (US$700 million) and Toromocho 1 (around US$400 million).

Within this context, BBVA Research estimated that mining investment is expected to continue increasing in 2020, although at a slower pace, with an annual growth of 9% compared to 18% recorded in 2019.

In the following years, the mining investment boost will be softened due to completion of new copper projects under implementation.

According to the study carried out by BBVA Research, the new copper units will reach maximum production levels by 2024. They are expected to produce 477,000 metric tons together.

Copper production is estimated to be around 3 million metric tons. Thus, Peru will remain the second-largest copper producer in the world.
Moreover, this scenario can be improved if the construction of awarded projects occurs first.
Said projects, which are in different stages of study, include Chancas, Yanacocha Sulfuros, Huquira, Zafranal, Coroccohuayco, and Magistral (copper); Pampa de Pongo (iron); San Gabriel and Inmaculada (gold); Pachapaqui (zinc); plus Corani (silver).
"All these projects represent a total investment of US$12.5 billion," the bank stated.

► Peruvian Mining investment to reach US$12.800 billion in 2020-2021

Antapaccay mine pite Lake
Peru's Energy and Mines Ministry (MEM) on Thursday projected the country will receive mining investments worth US$6.300 billion in 2020 and US$6.500 billion in 2021.

Thus, the upward trend —registered since 2017— will remain in place.

Deputy Minister of Mines Augusto Cauti informed that mining investment is close to reaching US$6.000 billion in 2019, thus ending the year with a growth rate of almost 25%.

"This year, we are growing at about 25% in mining sector investments compared to last year. We will reach three consecutive years of expansion, which is not a minor figure considering the global situation," he expressed.

Steady increase

It should be noted mining investment totaled US$3.928 billion in 2017, which meant a growth of 17.8% over 2016.

In 2018, mining investment amounted to US$4.947 billion, thus representing an expansion of 25.9% compared to 2017.

"This improvement is not only important for this sector, but also for the country since mining is one of the driving forces behind the country's growth and the population's development," the deputy minister underlined.

Thursday, January 9, 2020

✝️ Christianity in Iran 🇮🇷

Iglesia Católica Armenia en Teheran (wikipedia)

Are there Christians in Iran? How is life for them? 

Let's try to figure out how they live in a country where converting to Christianty can be a crime that means 10 years in prision. 

Yes, there are Catholic temples in Iran; but they are surrounded by surveillance cameras to avoid Muslims to come in. 

On the other hand, religious schools have limits on the kind of religious content they can deliver and teach to the kids.

These are some aspects shared by the Iranian journalist Sohrab Ahmari, who has his own path to the Catholic faith.

Sohrab Ahmari

According to Ahmari, "Catholicism is mainly an ethnic phenomenom". 

We can find Armenian and Assyrian Catholics in Iran, who has their own Churches, but they can not evangelize. In addition, Bibles are allowed only in their own language. 

According to Ahmari, who worked for the American Wall Street Journal "The Iranian Constitution consecrates Shia Islam as the state religion and relegates certain other religious minorities to a protected, but second-class status." 

This situation relegates Christians and Jews to disadvantege situatuation compared to Muslims. 

Sohrab Ahmari converted himself to Catholicism after living in the United States for more than two decades; which means that his own conversion would have been almost impossible if he lived in Iran.

According to Ahmari "These people have a certain degree of limited rights, but they also have all sorts of social limitations."

Nevertheless, other small religious groups like Evangelical Christians can be considered as illegitimate. 

Former Muslim have suffered worse sentences after Christian conversion according to the 2018 report of the United States Commission for International Religious Freedom (USCIRF). 

The document warned that "many were sentenced to at least 10 years in prison for their religious activities."

Maryam Naghash Zargaran

Maryam Naghash Zargaran, a Christian converted from Islam, was released from prison in August 2017, after serving more than four years to which she was sentenced. Mary Ann Glendon, former US ambassador to the Holy See, was among those who advocated her release.

In May 2017, four evangelical Christians were sentenced to 10 years in prison for their evangelizing work.

The US Department of State has designated Iran as a "country of particular concern" on religious freedom since 1999.

The Iranian government control internet behaviour in order to identify religious activists and activities.

According to the USCIRF, during a series of democratic protests in January 2018, the government blocked access to internet, including social networks.

While Christians have done much better in Iran than in neighboring Iraq, Ahmani believes it is important for Catholics to realize that these protests were different from other uprisings in the Middle East.

There is a tendency among some conservative Catholics to now see any uprising or any democratic fervor in a country as automatically bad, that is why  they care about those communities. 

They look at what happened with Iraq, what is happening with the Copts in Egypt and think ‘no more uprisings,’ ”said the Iranian journalist.

“The case in Iran is different because the regime itself enshrines a type of Islamic supremacy and suppresses minorities in several ways. People who are rising want religious freedom" said Ahmani.

Religious freedom and human rights were the center of Pope Francis' meeting with the president of Iran, Hassan Rouhani, in January 2016. Iran and the Holy See have had continuous diplomatic relations since 1954.

In the Vatican, Pope Francis and Rouhani also discussed the application of the Joint Comprehensive Action Plan (JCPOA), also known as the “Iranian nuclear agreement,” which had entered into force just 10 days before that meeting.

The president of the United States, Donald Trump, ended the JCPOA and reimposed the sanctions that had been lifted.

By the time and according to a White House statement, "JCPOA failed to deal with the threat of Iran's missile program and did not include a sufficiently strong mechanism for inspections and verification."

The human rights abuses of the Iranian regime and the repression against protesters were also condemned in the May 8 press release, announcing the end of the United States' participation in Iran's nuclear agreement.

► Light vehicle sales up 40.65% in Dec 2019

Sales of light vehicles —including cars, open-bed trucks, pickups, vans, station wagons, SUVs, and off-road vehicles— amounted to 14,397 units in December 2019, up 40.65% compared to the same month in 2018, the Automotive Association of Peru (AAP) reported on Tuesday.

Moreover, the December result is the best monthly growth since July 2012.

December sales resulted in a total of 151,997 sold light vehicles in 2019, a 2.42% increase over 2018, when sales declined by 9.32%.

"A result that puts the sector in the positive path and helps renew the vehicle fleet that is 13 years old on average," AAP highlighted.

The association stated that the recovery in sales of new vehicles in 2019 began to take shape in the middle of the year, when the rate of evolution turned upward after dropping consecutively for several months.

AAP explained that one of the important factors that influenced the positive behavior was the reduction of selective excise taxes on a certain vehicle segment.

Likewise, an improved performance of various economic indicators was observed during the second half of the year.🚗🚗

Wednesday, January 8, 2020

Cerro Verde, Antamina and Southern led copper production during 2019

The accumulated national copper production as of November 2019, registered an increase of 1.1% compared to a similar period of the previous year, thanks to the better performance of Compañía Minera Antamina SA (18.8%) and Southern Peru Copper Corporation with 16.9 % due to the implementation of the Toquepala Expansion project located in Tacna.

At the company level, Sociedad Minera Cerro Verde S.A.A. It remains first as the main producer representing 19.2% of the total, while Compañía Minera Antamina S.A. and Southern Peru Copper Corporation occupied the second and third positions with a participation of 18.8% and 16.9%, respectively.

At the regional level, Arequipa remains in first place representing 19.4%; while Áncash and Apurímac were in second and third place, concentrating 19.1% and 15.6%, respectively.

1 Million Peruvians to vote in the next Parlament Elections

The extraordinary parliamentary election process of January 26, 2020, will involve a total of 974,230 citizens who reside abroad, the National Office of Electoral Processes (ONPE) reported on Wednesday.

3,374 voting tables will be put into operation in 79 foreign countries located in the five continents: Africa (6), America (2,220), Asia (144), Europe (981), and Oceania (24).

The five nations with the largest number of voters are the United States (304,860), Spain (145,804), Argentina (141,566), Chile (113,083), and Italy (92,020). On the other hand, there are 15 countries with less than 100 voters each: Macedonia, Vietnam, Malaysia, Algeria, Ukraine, and Egypt.

According to the electoral body, the electoral process abroad will start at 1:00 p.m. on January 25, 2020 (Peruvian time and day) in the city of Wellington (New Zealand) and will conclude on January 26 at 7 p.m. in the city of San Francisco (United States).

Electoral material

On January 5, the transportation of electoral material to the voting tables abroad began through the Ministry of Foreign Affairs.

According to the chief in charge of ONPE Manuel Cox, about 17 tons of materials are needed to set up more than 3,000 polling stations.

The electoral material consists of ballot papers, electoral registries, ballot boxes, voting booths, and other elements necessary for election process.

As is known, the Executive Branch constitutionally dissolved Congress on September 30 and called for parliamentary elections to be held on January 26, 2020.
24,799,384 Peruvian citizens are eligible to participate in the upcoming elections both in their home country and from abroad.

Peruvian Agro-exports total US$6.232 billion in Jan-Nov 2019

Peruvian agricultural exports (traditional and non-traditional) totaled US$6.232 billion between January and November 2019, an 8.7% expansion over the same period in 2018, the Association of Peruvian Exporters (Adex) has informed.

This result was due to higher shipments of avocados, blueberries, grapes, and asparagus to international markets.

It should be noted that the aforementioned rate is lower than the one registered in January-November 2018 (12.2%) and January-November 2014 (22%), when coffee boosted the supply of traditional goods.

Likewise, products such as avocados, grapes, preserved asparagus, quinoa, mangoes, cacao beans, evaporated milk, and preparations used in animal feeding boosted the supply of value-added products.

Traditional agro-exports (US$672 million) went up 1.8% after posting declines of 5% and 9% in January-November of
2017 and 2018 respectively.  

The main export markets were the United States (+22.1%) and Germany (-6.7%), among others, such as Belgium, Colombia, Sweden, and Canada.

Moody's: Peru among countries with most fiscal space in LatAm

Chile, Paraguay, and Peru remain the sovereigns with the most fiscal space in the region, followed closely by Mexico, Moody's Investors Service has reported.

Some, including Argentina, Costa Rica and Ecuador, experienced a material reduction in fiscal space during the last five years, it said.

According to the credit rating agency, Colombia and Uruguay saw large increases in their debt burdens, although debt affordability remains sufficiently high. Panama similarly saw an increase in debt in 2019.

"We do not foresee LatAm sovereigns making material progress in rebuilding lost fiscal space. We anticipate continued, albeit modest, deterioration in government debt metrics, i.e., higher debt ratios and interest burdens," Moody's forecast.

Weak fiscal profiles leave governments with limited ability to manage shocks through countercyclical fiscal policies, it warned.

Furthermore, across the region, most sovereigns have improved their debt structures by extending maturities and —more importantly— reducing their share of foreign-currency-denominated debt. This mitigates liquidity (rollover) risk and balance sheet risk because of reduced exposure to currency fluctuations.

In this sense, "Peru and Uruguay materially reduced the share of foreign-currency debt in their debt burdens."

Moody's: Peru has fiscal space to boost public investment

Peru has fiscal space to implement the countercyclical measures aimed at boosting the economy in the short term, Moody's Investors Service Vice-President Jaime Reusche affirmed on Thursday.

In this sense, the officer indicated it is possible to use part of the fiscal space gained so far, although he warned against falling into fiscal overspending.

Last April, Peru's fiscal deficit reached 1.7% of GDP, whereas it stood at 1.5% of GDP in May.

"It could be easily expanded to 2% this year and then continue with the reduction. However, it (Peru) must do everything possible to reach 1% of GDP by 2021," he told El Peruano official gazette.


"In recent months, there has been a fiscal revenue recovery that has reduced the deficit gap, but there is still work to do with the purpose of achieving the goals," Reusche expressed.

"Leaving behind the path towards the reduction of deficit to 1% of GDP would be a serious mistake that would destroy Peru's so important fiscal credibility, which anchors the favorable vision of foreign investors," he stressed.

Likewise, the Moody's representative pointed out public expenditure is inefficient and spending without clear objectives —of what is being purchased with those resources— could be dangerous and irresponsible.

Trade war

On the other hand, the senior analyst informed the trade warbetween the United States and Chinahas still a small impact on the Inca country, but an escalation could highly affect its economic growth.

Furthermore, the officer stated mining investment is still stable, and the cash cost of exploiting minerals in Peru is one of the lowest in the world. Thus, even if metal prices drop, this will remain as a competitive sector.

Tuesday, January 7, 2020

12 Rules for Life by Jordan Peterson

I have to admit that I have discovered Jordan Peterson very recently last year, among that deep and big diversity ocean called YouTube. 

What catched my attention about him is that he is not the typical guy how promote the nihilistic idea that everyone deserve happiness as a grant. 

But he really point out is that we should develop our primary idea of responsability in every level or dimension of our life. 

And it is true, because we keep talking about civil rights, but there is a suspicious silence when we talk about responsability. 

Jordan Peterson, wrote a book intitled 12 Rules for Life. 

I took an overview of those ideas from an article published on The Guardian.

Original post:
1 Stand up straight with your shoulders straightMost lobsters are complete bastards left to their own devices. Most humans are complete bastards left to their own devices. This proves there is a God who wants us to have Order. Order is Masculine and Chaos is Feminine. Therefore to move towards Order, we all need to man up. Happiness is pointless. We are all on this Earth to suffer. So learn to suffer like a man. Not everyone can be as rich and successful as me, but try to be less of a failure than you already are. 

2 Treat yourself like someone you are responsible for helpingThe story of the Garden of Eden shows that we are all touched with Original Sin But you have a choice. You can either seek Heaven or be dragged down into Hell. Yes, you have a shameful, sinful nature but for God’s sake just make a bit of an effort. Stop waiting for other people to dig you out of your pitiful hole. 

3 Befriend people who want the best for youWe are all Being. Just some of us are better Beings. Learn to tell the difference. Some people are beyond help. They are merely exploiting the willingness of good people to help them and, as Dostoyevsky rightly observes, will drag you down to their level. So stick with the winners. If people are determined to screw up, let them. They are nothing to do with the Divine Purpose. 

4 Compare yourself to who you were yesterday, not the useless person you are todayFace it, you’re never going to be that smart, so don’t compare yourself to someone who is. Start by getting on your knees to pray. Even if you don’t Believe in God. Atheists are merely people who are blinded to the true way of Being. There, you feel marginally less useless already. 

5 Do not let your children do anything that makes you dislike themRemember that children are born with Original Sin and have a huge capacity for Evil. They are not Innocent Beings. They need Discipline if they are going to grow up to be even vaguely worthwhile humans. And slap them if necessary – don’t listen to what the lefties say. 

6 Set your house in order before you criticise the worldRemember the story of Cain and Abel? Well, read it then. Yes, Abel was a schmuck who deserved to die and Cain wasn’t quite as goddamn perfect as he thought he was. He deserved to die, too. We all deserve to die. So stop moaning if someone is richer and better looking than you.
7 Pursue what is meaningful, not what is expedientLife is suffering. The Book of Genesis tells us that. There is no easy way round this. So quit looking for short cuts and start reading Nietzsche.
8 Tell the truth. Or at least don’t lieTo be honest, I’m scrabbling around for thingsbut my publishers tell me I need 12. By telling you the Truth about this, I am an Improved Being. Certainly better than you. 

9 Assume the person you are listening to knows something you don’tJust shut up, quit moaning and listen to me. I know things you don’t. So don’t expect me to listen to you. That’s not the way things work. I’m here to make you feel Better about Yourself by telling you things you already know in a way that makes you feel clever. 

10 Be precise in your speechConfront the chaos of Being. Don’t try to beat about the bush. Things are going to be terrible. Oedipus killed his Dad. You may well kill yours. Get over it. Face up to the real horrors of the world. 

11 Do not bother children while they are skateboardingThis is the rule that’s the real catnip for right-wingers everywhere. Want to know why the world is falling apart? It’s because liberals are turning boys into girlies with their namby-pamby ways. Let boys do boy things and girls do girl things. Nowhere in the Bible does God say anything about this trans nonsense. There’s nothing wrong with men having all the best jobs and women staying home to look after the kids. So back off, ladies, and give us men a break. 

12 Pet a cat when you encounter one in the streetOK. So I really am scraping the barrel now. We’re all going to die. Probably painfully. So just make the best of what you’ve got. If you see a cat, stroke it. You might feel better. Though probably not. And if there are no cats, pet something else. Like a dog.