## Peru: Staff Report for the 2010 Article IV Consultation

_IMF Staff Country Reports, April 23, 2010_

## Source details

**Canonical URL:** [Peru: Staff Report for the 2010 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/peru-staff-report-for-the-2010-article-iv-consultation-23811)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/peru-staff-report-for-the-2010-article-iv-consultation-23811/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/peru-staff-report-for-the-2010-article-iv-consultation-23811/index.json)
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## Bibliographic details
- Published: April 23, 2010
- Series: IMF Staff Country Reports

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### Executive summary
- 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.
- Strong buffers built in recent years allowed Peru to implement a significant monetary and fiscal policy response that helped avoid a credit crunch, support domestic demand, and sustain employment.
- The central bank injected substantial liquidity into the financial system and lowered the policy rate to an historic low of 1.25 percent.

### Macroeconomic developments and policy response
- Growth:
  - Deceleration in 2009 linked to the global financial crisis.
  - Overall growth remained at about 1 percent for 2009, with some months in negative territory.
- Monetary policy:
  - Central bank actions included substantial liquidity injections into the financial system.
  - Policy rate reduced to an historic low of 1.25 percent.
- Fiscal policy:
  - Authorities implemented a significant fiscal policy response to support domestic demand and employment.
- Financial sector:
  - Policy measures focused on avoiding a credit crunch and sustaining credit flows to the private sector.

### Key themes and focus areas
- Subjects: Currencies, Economic sectors, External debt, Fiscal policy, Fiscal stance, Money, Public debt, Public sector
- Keywords: capital market, central bank, CR, credit crunch, Currencies, debt, Fiscal stance, Global, inflation expectation, ISCR, macro-economic indicators, Peru, Peruvian economy, private sector, Public sector, short-term debt

*International Monetary Fund — Peru: Staff Report for the 2010 Article IV Consultation (April 23, 2010).*

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## Content in this bundle

- **Peru:  Staff Report for the 2010 Article IV Consultation; IMF Country Report 10/98; March 26, 2010**
  - [Peru:  Staff Report for the 2010 Article IV Consultation; IMF Country Report 10/98; March 26, 2010 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr1098.pdf.md){rel="alternate" type="text/markdown"}
  - [Peru:  Staff Report for the 2010 Article IV Consultation; IMF Country Report 10/98; March 26, 2010 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr1098.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/peru-staff-report-for-the-2010-article-iv-consultation-23811_