Creation of Program to Raise Funds to pay Obligations, Approve Fund Withdrawal and Control by the Comptroller
6 abril 2020

On April 6, the Executive Power issued Decree No. 1455, setting up the “Reactiva Peru” Program which earmarks financing to help companies sustain their capital funds, if they comply with their payments and obligations to workers and their goods and services suppliers, thus ensuring the integrity of the payment chain. The decree is already in force.

In other news, the Congress in its plenary approved a bill that allows Private Pension System members to withdraw 25% of their funds from this system. The regulations state that people may withdraw up to a maximum equivalent to 3 UIT (Tax Units) which is about 12,900 soles, or a minimum, being equivalent to one ITU, or 4,300 soles. The regulations will come into effect when published in the Official Gazette.

Likewise, the Legislature approved an initiative giving the Comptroller General the power to control all entities receiving resources allocated during the COVID-19 health emergency. The Comptroller’s Office will apply a simultaneous control mechanism including concurrent control, control visits and ex officio orientation, without this involving any greater budgetary allocations.