Melissa Reid, from Glasgow, was arrested with Connolly, of Dungannon in Northern Ireland, last month after being caught allegedly attempting to sneak out a total of 11 kilos of the drug.
Reid, 20, maintains that gangsters had forced her to carry the drugs, but told the newspaper she would be pleading guilty.
“I am really scared about what I am about to do but I am also relieved that there could be a light at the end of the tunnel,” she said.
“I’m now coming to terms with the fact I am so far away from my family. This is real.
“After a lot of thought and advice from my lawyer I am going to go in front of the judge and admit I was in possession of the drugs and that I went to Peru to pick up drugs to take to Spain — I am willing to plead guilty to that.”
But she insisted that she acted “under duress”.
If convicted the women face between eight to 15 years in jail.
According to the newspaper, the guilty plea could see Reid’s sentence cut to six years and eight months.
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