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Prime Minister Jorge del Castillo said that he and his cabinet were ready to put their fate in the hands of President Alan Garcia Perez.
The move follows a frustrated attempt by the cabinet to explain its decisions before parliament.
Congress is to investigate alleged bribe-taking by politicians.
On Sunday, a TV station broadcast a tape which it claimed was a recording of an executive in the state oil company, Petroperu, and a prominent lobbyist discussing payments to help a firm win contracts.
Energy and Mines Minister Juan Valdivia has already resigned.
Petroperu's president, Cesar Gutierrez, has also resigned, although he has denied any involvement.
Mr del Castillo said he and his cabinet were "going to the presidential palace to offer our posts to the president so he can decide".
Correspondents say it is the latest in a series of corruption scandals, which will do nothing to improve low public confidence in the Peruvian government.
(BBC)
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