Abel Salinas announces contacts with financial institutions
Abel Salinas Eyzaguirre announces in the Senate the government's decision to initiate contacts with international financial organizations. This announcement precedes Peru's formal return to the IMF and the World Bank on September 23.
On September 8, 1988, in the Senate, Minister Abel Salinas Eyzaguirre announced the government's decision to initiate contacts with international financial organizations. This announcement takes place in a context of severe economic crisis, days after a major food shortage that generated strong public protests. On September 23, Peru formally returned to the international financial community, explicitly to the IMF and the World Bank, which required an unprecedented rescue operation, as the outstanding obligations exceeded US$1 billion. This decision marks a significant change in the economic policy of the APRA government of Alan Garcia.