IMF Staff Country Reports

Peru: Staff Report for the 2010 Article IV Consultation

Publication Date:

April 23, 2010

Electronic Access:

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Summary:

This 2010 Article IV Consultation highlights that growth in Peru decelerated sharply in 2009, owing to the global financial crisis, but remained positive at about 1 percent for the year, despite a few months in negative territory. Thanks to the strong buffers built in recent years, Peru was able to implement a significant monetary and fiscal policy response, which helped to avoid a credit crunch, support domestic demand, and sustain employment. The central bank injected substantial liquidity in the financial system and lowered the policy rate to an historic low of 1.25 percent.

Series:

Country Report No. 2010/098

Subject:

Currencies Economic sectors External debt Fiscal policy Fiscal stance Money Public debt Public sector