I consider, that available Peru 19 MiG-29 it is necessary to repair and modernize in MiG-29SMT in Russia. The matter is that Israelis cannot lead major overhaul Peruvian MiG-29's. And for modernization of one MiG-29 Israel, most likely, will request not less than 10 million dollars. And on quality the fighter modernized by Israelis hardly will have higher fighting efficiency, rather than MiG-29SMT. Cost of modernization MiG-29 in MiG-29SMT makes 7 million dollars. Thus, if to make simple mathematical calculation, it turns out, that Peru will pay Russia of 190 million dollars for major overhaul and modernization of 19 fighters.
As to the Belarus variant of modernization... It would be also a good variant.