MEF expected to be implemented in seven months that promote Infrastructure Fund CAF and IDB

Featured articles | Govea Darcy | June 11, 2009 at 9:22 a.m.

The Ministry of Economy and Finance (MEF) estimated that in six or seven months will be implemented in Peru Infrastructure Fund that promotes the Corporación Andina de Fomento (CAF) and the Inter-American Development Bank (IDB) jointly

He added that in countries like Colombia that took many months to implement this type of funds and is the normal time used by officials of international agencies in conducting competitions to select the entities responsible for administering them.

It should be noted that last May 21, CAF said initiated jointly with the IDB, a process of identifying private entities interested in managing an equity fund for infrastructure projects in Peru.

In addition, Arista reported that the MEF has already sent to the National Superintendency of Tax Administration (Sunat) their views on the proposal to apply the withholding tax system of the General Sales Tax (VAT) to transactions with credit cards and debit card.

However, it declined to give details on the opinion of the ministry, saying only that users can continue using their calm credit and debit cards.

He also mentioned that the Central Reserve Bank (BCR) could further reduce its benchmark interest rate to continue to encourage increased domestic demand, declining to delve into the subject to avoid conflicts with the issuing entity.

On the other hand, opposed the bill being debated in the Committee on Budget and General Account of the Republic of Congress to authorize an increase in payments for the Management Committees of the Funds for Assistance and Encouragement ( CAFA) in regional governments with resources in excess.

"This means give a very open space for the same owners of these statements can increase their earnings, according to budget availability," he said.

In this regard, said this would create a greater pressure for further increases remunerative orders by the regional governments do not have excessive resources.

"In addition, organizations that have resources available to make further payments would be disregarding the CAFA funding from other activities (investment) to meet these pressures remuneration," he said.