Great show on the Travel Channel at the invitation of former President Alejandro Toledo. Brilliant marketing move for tourism. Parts 1, 3 and 5 of this show follow.
In 2002, I hiked the Inca Trail to Machu Picchu, watched the Inti Raymi (Festival of the Sun) celebrations at Sacsayhuaman, outside Cuzco, and went trekking in the Cordillera Blanca around Huaraz. Spectacular! I highly recommend a visit.
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Comment is free | guardian.co.uk
Glaciers in Peru are melting so quickly that by 2015 almost all of them may have disappeared. This is not just a problem for Peru but for the whole Andean Community of Nations, including Bolivia, Colombia and Ecuador. These countries generate around 73% of their electricity from hydro energy. Ironically, this renewable source of energy risks disappearing because of melting glaciers caused by climate change.The report, Climate change knows no borders, provides a chilling reminder of the catastrophic impacts of climate change on the Andean region. The evidence predicting the rapid loss of glaciers and a fiercer, more frequent El Niño effect, where ocean temperatures rise along the coasts of Ecuador and Peru, causing droughts and floods, reveals an uncertain and potentially destructive future for the region.
If this wasn’t enough, climate change could lead to further losses of
up to $30 billion a year by 2025 in the Andean region while the effect
of melting glaciers could place 40 million people at risk of losing
their water supply.
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Peru plans to table the need for corporate social responsibility as a crucial element of globalization at the Asia Pacific Economic Cooperation (APEC) summit to be hosted by Lima next November, Peru’s deputy foreign minister said Thursday. “If you are living in the Andes where you don’t have electricity, education and health services and you have next door a very important international company that is making billions of dollars exploiting gold, silver and copper, that creates a social problem,” noted Gonzalo Gutierrez Reinel during a visit to Bangkok.Peru, fresh from hosting a summit of 68 heads of state from Latin
America, the Caribbean and Europe last May, will host the upcoming
APEC summit on November 22-23. The annual APEC leaders’ meeting
is expected to focus on regional efforts to create a free trade area,
the food and energy crises and what Peru perceives as a growing need to
agree the importance of corporate social responsibility. “We
need companies to be aware of that, because if they have a social
element they can be accepted and considered a part of society, and the
possibility for working in a peaceful environment is going to improve a
lot,” said Reinel.
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Grew 9% last year, on course for 7% this year. Indian investors take note.
INVESTMENT GRADE, DEBT
Fitch on Wednesday raised its foreign currency sovereign credit rating to “BBB-” from “BB+” with a stable outlook.
Standard & Poor’s rates Peru at “BB+”, one notch below investment grade, while Moody’s Investors Service rates Peru two notches below at “Ba2″.
“The economic performance we’ve been having is very positive and at some point the two other agencies will feel more comfortable about giving us investment grade,” he said.
What the ratings upgrade means: Further upgrades would give Peru wider access to cheaper, longer-term debt and lure more investments from abroad.
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