IDB loan announcement
IDB President Enrique Iglesias announced in July 1991 that the institution would approve in September a first loan of US$1.1 billion for Peru, recognizing the government's efforts to reintegrate Peru into the international financial system.
The president of the Inter-American Development Bank (IDB), Enrique Iglesias, acknowledged the important effort made by the Peruvian government to achieve its reinsertion in the international financial system. Iglesias announced that his institution would approve a first credit for US$1.1 billion in September. This announcement came in the context of the Peruvian government's negotiations to reinsert itself into the international financial system, after reaching an agreement with the IMF in January 1991. The loan represented an important endorsement of the economic policies implemented by Alberto Fujimori's government.