Promulgation of the Banking Law

The Executive Branch enacted the Banking Law in April 1991 without giving time for the suggestions that were beginning to be prepared by the interested parties. Among those affected by this decision was the Federation of Bank Employees, which had no opportunity to present its observations or proposals. This enactment was framed in the context of the structural reforms that Alberto Fujimori's government had been implementing since the beginning of 1991. The law was part of a package of economic and state reform measures that included the liberalization of foreign trade, the elimination of state monopolies and changes in the financial system.