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Peru, the fastest growing economy in Latin America, is hoping its natural gas development projects will transform its economy and Fitch rating agency agrees.
Peru is in talks with Spain and warplane suppliers as part of a low-budget plan to replace ageing air force aircraft with second-hand Eurofighters and other comparable fighters.
Nicolas Maduro was sworn in as Venezuela's interim president Friday in Caracas, three days after his predecessor, Hugo Chavez, died of cancer.
Peru's industrial progress is proving costlier than expected as protests widen over industrial pollution, contamination of underground water resources and lead poisoning.
Korean Aerospace Industries has made a deal with Peru for the purchase of 20 KT-1 turboprop trainer aircraft for the Peruvian air force.
Renewed contacts between Peru and the United States are seen as a boost to the prospect of increased aviation and defense sales in the Latin American country.
Peru is going ahead with the construction of a high-volume new airport at Cusco in southeastern Peru despite controversies over potential risks to the ecological treasures of Chinchero.
Peru's Catholic Church intervened in reconciliation talks between the government of President Ollanta Humala and activists protesting the $5 billion Conga copper and gold mine project.
Peru declared a state of emergency in Espinar after protests over a copper mine expansion left two protesters dead and dozens of police injured, officials said.
Peru is going ahead with a $266 million upgrade of its fast aging combat aircraft while it considers how to keep its air force up to speed with changing technologies and modern warfare requirements.
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United Press International
United Press International
