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Peru and the IMF

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A quarterly magazine of the IMF

December 2005, Volume 42, Number 4

Country Focus: Peru

In recent years, Peru has enjoyed robust growth thanks to sound macroeconomic policies, significant progress with structural reforms, and a favorable external environment. Continued strong growth will help further reduce Peru's still high poverty and social inequalities.

Since 2002, private investment and exports have contributed to strong economic growth. The doubling of exports over the past four years has helped the current account swing into surplus. The banking sector has become more resilient, with a larger reserve cushion... ..and sustaining banking and macroeconomic stability will help reduce still high dollarization. Fiscal discipline has greatly lowered the debt-to-GDP ratio and further reductions are planned. But poverty and inequality remain high, stressing the need for sustained policies that promote strong growth and more efficient spending.

Source: Central Bank of Peru and World Bank World Development Indicators.