Treasury Secretary James A. Baker III is scheduled to head the U.S. delegation to the July 28 inauguration of Peruvian President-elect Alan Garcia, and administration security officials are concerned about the possibility of guerrilla attacks during the inauguration events.

Police in Lima have arrested several thousand people and confiscated explosives as part of "Operation Presidential Security," which will be carried out each night until the inauguration.

Baker is scheduled to leave Washington on Friday and return a week from today after a brief stop in Guatemala.

It wasn't clear whether Baker would discuss Peru's dismal financial situation while in Lima. Peru is about $1.85 billion behind in servicing its $13.7 billion foreign debt. Garcia has said he will try to avoid negotiating with the International Monetary Fund to solve his country's debt problems, as many other developing countries have done, and instead "address our creditors directly."

David C. Jordan, U.S. ambassador to Peru, and Elliott Abrams, assistant secretary of state for inter-American affairs, also will be part of the delegation.

Baker plans to take a trip Aug. 5 that should be considerably tamer: He'll travel to Boise, Idaho, to speak to the National Governors' Association on tax reform and the economy.

Meanwhile, in other travel news, Margaret Tutwiler, assistant secretary for public affairs and public liaison, has been in Nairobi, Kenya since July 11 as an American delegate at the U.N. conference on the progress of the world's women in the last decade. Tutwiler will return to the department July 31.

MORE COMINGS AND GOINGS . . . Charles E. McLure Jr. deputy assistant secretary for tax policy, is returning to the Hoover Institution in the next few weeks. McLure was affiliated with the institute before he joined the department two years ago. He served as one of the main architects of the department's tax reform plans.

George D. Gould, a general partner in Wertheim and Co., an investment banking firm, and chairman and chief executive officer of Madison Resources Inc., an oil and gas company in New York, awaits confirmation as undersecretary of the Treasury. Gould would replace Beryl W. Sprinkel, who became chairman of the Council of Economic Advisers earlier this year.

The department has decided to drop the designated duties for the two undersecretary jobs, neither of which is now filled. Sprinkel had held the job of undersecretary for monetary affairs, while Norman Ture, who left three years ago, had been undersecretary for tax and economic affairs.