Peru: 2016 Article IV Consultation-Press Release; and Staff Report
IMF Staff Country Reports, July 15, 2016
Source details
- Canonical URL
- Peru: 2016 Article IV Consultation-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: July 15, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498368438.002
Major findings on economic performance
- Peru has "successfully navigated the commodity cycle and the 2008–09 global financial crisis."
- Peru "still leads growth among large Latin American economies."
- After "a sharp and unexpected drop in 2014, growth picked up in 2015, reaching 3.3 percent" largely owing to higher metals production and fishing, and a partial recovery in services and commerce.
- Peru is "now positioned to grow faster in the next two years, as mining production reaches full capacity and large infrastructure projects advance."
- "Inflation is expected to decline."
Outlook and projections
- Short-term growth drivers:
- Higher metals production and fishing contributed to the recovery to "3.3 percent" growth in 2015.
- Mining production reaching full capacity is expected to support faster growth over "the next two years."
- Advancement of large infrastructure projects is cited as an additional growth impetus.
- Inflation:
- The report states that "Inflation is expected to decline."
Risks and vulnerabilities
- Overall risk assessment: "Risks to the outlook are balanced."
- Downside risks: "Downside risks are mostly on the external side."
Thematic coverage (subjects and keywords)
- Subjects: Currencies, Economic sectors, External debt, Inflation, Money, Prices, Public debt, Public sector
- Keywords: commodity, commodity cycle, CR, Currencies, further exchange rate flexibility, Global, Inflation, inflation expectation, ISCR, production capacity, Public sector, rate, short-term debt