IMF Executive Board Completes Third Review of Peru's Stand-By Arrangement

The Executive Board of the International Monetary Fund completed the third review of Peru's economic performance under a 26-month Stand-By Arrangement approved on June 9, 2004 (see Press Release No. 04/112). The completion of the review makes available for purchase a total equivalent to SDR 204.4 million (about US$296 million). The Peruvian authorities intend to continue to treat the arrangement as precautionary.

In completing the review, the Board granted a waiver for the non-applicability of the December 31, 2005 quantitative performance criteria.