Peru: Staff Report for the 2002 Article IV Consultation, First Review Under the Stand-By Arrangement, and Request for Modification and Waiver of Performance Criteria
March 14, 2003
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This paper examines Peru’s 2002 Article IV Consultation, First Review Under the Stand-By Arrangement, and a Request for Modification and Waiver of Performance Criteria. The fiscal policy was tightened in early 2002 from the expansionary stance in the second half of 2001. The baseline medium-term outlook is favorable, albeit not without risks. Assuming sound macroeconomic policies and structural reforms continue, Peru should be able to achieve medium-term growth of 5 percent. However, the domestic political situation contains clear risks, potentially holding up tax reform and undermining fiscal discipline.
Subject: Banking, Central banks, Economic sectors, External debt, International reserves, National accounts, Private investment, Public debt, Public sector
Keywords: CR, economy, financing plan, Global, government, inflation targeting framework, International reserves, ISCR, Private investment, Public sector, review of Peru, staff appraisal, stand-by agreement
Pages:
87
Volume:
2003
DOI:
Issue:
072
Series:
Country Report No. 2003/072
Stock No:
1PEREA0012003
ISBN:
9781451830989
ISSN:
1934-7685
