According to an emergency decree issued on May 11, Peru’s government has authorized state-owned oil company Petroperu to seek $2 billion in state-guaranteed loans to ensure business continuity. The decree stipulates that the Energy and Mining Ministry will assume contingent liabilities and related financial costs for the transaction, with expenses covered by the ministry’s budget. The government also authorized the ministry to assume up to $500 million in short-term contingent liabilities for the company.
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