Presidential message on economic plan
Alan Garcia Perez announces a comprehensive economic plan that includes wage and salary increases, price readjustments and devaluation for 1987. The message comes amid tensions with the IMF over the government's foreign debt payment policy.
President Alan Garcia Perez addressed a message to the nation announcing wage and salary increases as part of an overall economic plan. The plan included national price readjustments and devaluation scheduled for 1987. This announcement came against a backdrop of tensions with the International Monetary Fund, as in August of that year the IMF had declared Peru ineligible due to arrears on financial obligations. The government had adopted a policy of using only 10% of export revenues for external debt payment.