discontent grows
(ENRIQUE CASTRO-MENDIVIL,…)
LIMA (Reuters) - Peru's provincial governments are sitting on billions
of dollars in mining tax revenue earmarked for new roads, schools and
water projects - an institutional failure contributing to anti-mining
protests nationwide.
Regional and local governments had 9.5 billion soles ($3.5 billion) from natural resources taxes collected over the last decade lying dormant in bank accounts as of December, according to a Reuters analysis of finance ministry data. The swollen coffers represent a fortune in poor provinces where the poverty rate is around 60 percent despite Peru's decade-long boom fueled by minerals exports to a rising China.
Regional and local governments had 9.5 billion soles ($3.5 billion) from natural resources taxes collected over the last decade lying dormant in bank accounts as of December, according to a Reuters analysis of finance ministry data. The swollen coffers represent a fortune in poor provinces where the poverty rate is around 60 percent despite Peru's decade-long boom fueled by minerals exports to a rising China.
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