Peru: Review Under the Flexible Credit Line Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Peru

May 19, 2023

Preview Citation

Format: Chicago

Peru: Review Under the Flexible Credit Line Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Peru, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

Peru’s long track record of very strong economic fundamentals and institutional policy frameworks allowed the country to deploy a robust policy response to mitigate the impact of the pandemic and a subsequent successful withdrawal, while preserving macroeconomic stability and sustaining ample access to international capital markets. GDP growth slowed in 2022, falling below potential as the policy stimulus was withdrawn, the external backdrop turned more challenging, and political instability weighed on private investment. Growth is expected to remain subdued in 2023 and to converge gradually to potential over the medium term. Inflation rose in line with international trends but is expected to fall towards the upper end of the target range by year-end. The macroeconomic policy mix is broadly appropriate.

Subject: Credit, Economic sectors, External debt, Inflation, International organization, Monetary policy, Money, Prices, Public debt, Public sector

Keywords: Caribbean, Credit, Expectations indicator, FCL arrangement, FX intervention, Global, Implementation warrant, Inflation, Inflation expectation, Policy stimulus, Public sector

Publication Details

Pages:

52
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/169
Stock No:

1PEREA2023002
ISBN:

9798400241673
ISSN:

1934-7685

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