15 June 2012

PERU: Provinces Sitting On $3.5 Billion In Mining Money...While Locals Protest.


     A veritable fortune in mining tax revenues...up to $3.5 billion...is sitting idly in provincial coffers...while citizens infrastructure demands...and impatience over lack of progress... morph instead...into more anti-mining protests.
     Reuters says that none of the 16 provinces has spent all their funds on badly needed water, sewage and electricity projects.
     Often...local officials in poor regions instead waste money on unneeded projects like showy plazas, heated swimming pools and bull rings.