Garcia admits mistake in consumer policy

President Alan Garcia Perez publicly admitted that the government was wrong to maintain a consumerist policy for too long. This policy had kept gasoline prices, interest rates and the dollar artificially low. Garcia acknowledged that this economic strategy ended up impoverishing the Peruvian state. This statement came in the context of a serious economic crisis and days after Minister Abel Salinas Eyzaguirre announced the government's decision to initiate contacts with international financial organizations.