The aforementioned external debt is subject to a non-refundable commitment fee of 0.25% per year on the undisbursed loan balance, as well as an administration fee of 0.75% on the total loan amount.
The Ministry of Economy and Finance (MEF) approved an external debt operation with the German state bank Kreditanstalt für Wiederaufbau – KfW within the framework of Law No. 31955, Public Sector Debt Law for Fiscal Year 2024, for up to 300 million euros (about US$325 million).
The new debt operation with the German development bank KfW is part of the so-called “Digital Transformation Program”, to be executed by the MEF, according to Supreme Decree No. 121-2024-EF that makes it possible.
The aforementioned external debt is subject to a non-refundable commitment fee of 0.25% per year on the undisbursed loan balance, as well as an administration fee of 0.75% on the total amount of the loan, which is one-time and non-refundable.
According to Law No. 31955, the Peruvian Government may agree to external debt operations for an amount equivalent to US$2,572 million, of which US$509 million corresponds to the “Balance of Payments Support” allocation. In this last section, the “Digital Transformation Program” is considered.
It should be noted that, due to the fungible nature of the external debt operation, “budgetary availability from the National Counterpart is not required,” the document states.
In addition, the Comptroller General’s Office has been previously informed about the aforementioned external debt operation, in application of Law No. 27785, Organic Law of the National Control System and the Comptroller General of the Republic.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
