Peruvian foreign reserves reach highest GDP level in LatAm

Peruvian net foreign reserves had reached 59.969 billion U.S. dollars in early July, representing 30.8 percent of its GDP, the highest percentage in Latin America, the Lima Chamber of Commerce (CCL) said in a report.

The reserves could cover all of Peru's imports for 18.1 months, the report said.

Peru was followed by Brazil, Mexico, Chile and Colombia, which hold foreign reserves tantamount to 19.3, 17.5, 16.1 and 14.4 percent of their GDPs respectively.

In the region, Argentina and Venezuela rank the lowest, as their foreign reserves represent only 4.6 and 2.5 percent of their GDPs respectively. Endi