{
  "title": "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",
  "publication": "IMF Staff Country Reports, March 14, 2003",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419",
  "overlayPath": "/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/index.md",
  "summary": "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.",
  "sections": [
    {
      "heading": "Executive summary and principal findings",
      "content": "- The 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.\n- Fiscal policy was tightened in early 2002 after an expansionary stance in the second half of 2001.\n- The baseline medium-term outlook is favorable, albeit not without risks.\n- Assuming sound macroeconomic policies and structural reforms continue, Peru should be able to achieve medium-term growth of 5 percent.\n- The domestic political situation contains clear risks that could hold up tax reform and undermine fiscal discipline."
    },
    {
      "heading": "Fiscal policy developments",
      "content": "- Policy stance: tightened in early 2002 following an expansionary stance in the second half of 2001.\n- Policy risk: political obstacles could delay tax reform and weaken fiscal discipline."
    },
    {
      "heading": "Medium-term outlook and risks",
      "content": "- Baseline projection: medium-term growth of 5 percent contingent on continued sound macroeconomic policies and structural reforms.\n- Key downside risk: domestic political instability affecting reform implementation and fiscal consolidation."
    },
    {
      "heading": "Thematic coverage (subjects and keywords)",
      "content": "- Subjects: Banking, Central banks, Economic sectors, External debt, International reserves, National accounts, Private investment, Public debt, Public sector.\n- 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.\n\nPeru: Staff Report for the 2002 Article IV Consultation, First Review Under the Stand-By Arrangement, and Request for Modification and Waiver of Performance Criteria (IMF Staff Country Report).\n\n---\n\n Content in this bundle\n\n- cr0372\n  - cr0372 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0372 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/bundle-manifest.json)",
    "Published: March 14, 2003",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451830989.002",
    "The 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.",
    "Fiscal policy was tightened in early 2002 after an 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.",
    "The domestic political situation contains clear risks that could hold up tax reform and undermine fiscal discipline.",
    "Policy stance: tightened in early 2002 following an expansionary stance in the second half of 2001.",
    "Policy risk: political obstacles could delay tax reform and weaken fiscal discipline.",
    "Baseline projection: medium-term growth of 5 percent contingent on continued sound macroeconomic policies and structural reforms.",
    "Key downside risk: domestic political instability affecting reform implementation and fiscal consolidation.",
    "Subjects: 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.",
    "**_cr0372**"
  ],
  "related": [
    {
      "title": "_cr0372",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2003/_cr0372.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2003/_cr0372.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2003/_cr0372.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/index.md",
    "json": "/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/30/peru-staff-report-for-the-2002-article-iv-consultation-first-review-under-the-stand-by-16419/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-13T16:18:09.964Z"
}