After participating in the 2014 Latin American Cities Conferece in Lima on November 21, Mauro Leos spoke with AS/COA Online about the country's macroeconomic future. The Moody's Investor Service vice president and senior credit officer for Latin America noted that Peru's new sovereign rating will hold out for the next few years because of the country's economic growth. Between 2008 and 2013, the average GDP growth stayed above 6 percent, and strong government accounts helped earn the country an "A" rating, with a new group of peers like Malaysia and Poland. According to Leos, the challenges for Peru to improve its portfolio include strengthening the country's institutions and boosting incomes.

Hear Leos' remarks in Lima and view his presentation.

During the Lima conference, participants debated the role of climate change on Peru's economy and the role of the private sector. Leos explained that Moody's does not yet take climate change into account when rating countries, but this could change by the end of the decade.

El Viceministro de Relaciones Exteriores Claudio de la Puente habló con Luisa Leme de AS/COA Online sobre el rol del sector privado en la lucha contra el cambio climático. De la Puente dijo que el sector público está trabajando para crear un marco regulatorio sobre emisiones y el sector privado debe contribuir con ingeniería y tecnología. La entrevista ocurrió en el marco de la conferencia 2014 Latin American Cities Conference en Lima, en el cual viceministro participó con palabras de clausura. 

Vice Minister of Foreign Affairs Claudio de la Puente explained the threat of climate change in Peru, emphasizing its direct impact on economic growth and social conflict. 

Speaker:

• Claudio de la Puente, Vice Minister, Ministry of Foreign Affairs of Peru

In his presentation, Eduardo Jaime Durand López-Hurtado analyzed Peru's current climate scenario, looking at the trajectories the country could take to mitigate portending temperature increases. Afterwards, Minister Alonso Seguro spoke about country's economy and the changes that needed to ensure growth. Panelists further discussed opportunities for growth by strengthening institutions and increased innovation. 

Keynotes:

• Eduardo Jaime Durand López-Hurtado, General Director of Climate Change, Desertification, and Hydraulic Resources, Ministry of the Environment of Peru
• Alonso Segura, Minister of Economy and Finance of Peru

Panel – Economic Overview of Peru and the Region: 

• Mauro Leos, Vice President and Senior Credit Officer, Moody’s Investors Service (View his presentation)
• Munir Jalil, Director/Chief Economist, Andean Region, Citi Research (View his presentation)
• Luis Salazar, President, Sociedad Nacional de Industrias
• César Peñaranda, Executive Director, Institute for the Economy and Business Development, Lima Chamber of Commerce (moderator)

Read a summary of Eduardo Jaime Durand López-Hurtado presentation.

Read a summary of Alonso Segura's presentation.

Learn more about the panel discussion.

Though Peru contributes only 0.16 percent of global carbon emissions, the public and private sectors must collaborative to mitigate and adadpt to the effects of climate change, panelists said. Some of the greatest challenges lie in incentivizing innovation and investment in clean enery and combatting illegal industrial activities.

Speakers:

• Diego de la Torre de la Piedra, President, United Nations Global Compact in Peru (moderator)
• José Antonio Ríos, Chairman and CEO, CELISTICS
• Germán Jimenez Vega, Country Manager, Peru,  Pluspetrol
• Eva Arias, President, Sociedad Nacional de Minería, Petróleo y Energía (SNMPE)
• Edwin Quintanilla Acosta, Vice Minister, Ministry of Energy and Mines of Peru
• Mary Gómez Torres, Senior Executive, Climate Change & Environment, CAF