Juan Brignardello Vela
Juan Brignardello Vela, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.
The announcement of a possible seventh withdrawal of funds from the Pension Fund Administrators (AFP) in Peru has caused a stir in the local financial markets, with repercussions on both the exchange rate of the dollar and the performance of the Lima Stock Exchange (BVL). Since this measure was proposed, still pending ratification by the Congress Plenary, investors have expressed concern about the possibility that the AFPs may have to liquidate part of their assets to cope with these withdrawals, estimated at around S/ 34,000 million according to the Superintendence of Banking, Insurance, and AFPs (SBS). The dollar, which had been holding steady around S/ 3.70, experienced a rapid rise due to foreign investors' fears about the consequences that this release of funds in the local market could have. The Lima Stock Exchange also suffered a 2.5% setback, with its main sectors in the red. Government bonds, in which the AFPs have significant investments, have been affected by this uncertainty, with an increase in interest rates and the possibility of an early sale of these securities, which has had an impact on the financial markets. In this situation, the possibility has been raised that the AFPs may resort to selling government bonds to obtain the necessary liquidity, which could alleviate the upward pressure on the exchange rate. However, uncertainty persists, especially regarding possible adjustments in stock prices on the Lima Stock Exchange. The possibility of institutional setback and private savings in Peru as a result of this new withdrawal of funds concerns investors, both local and foreign, and could have repercussions at the national and international levels. In this scenario, the intervention of the Central Reserve Bank of Peru (BCRP) to provide liquidity to the AFPs and the decisions they make regarding the management of their assets will be key in the evolution of the financial markets in the coming months. In summary, the possible seventh withdrawal of funds from the AFPs has created an atmosphere of uncertainty in the Peruvian financial markets, impacting the exchange rate, interest rates, and the performance of the Lima Stock Exchange. Investors will be watching closely the decisions made regarding this measure and the potential consequences it may have on the country's economy.