{
  "title": "Peru: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru",
  "publication": "IMF Staff Country Reports, July 25, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/07/25/peru-2018-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-46099",
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  "summary": "Peru has been one of the top performers in Latin America since the turn of the century: robust growth has helped close the income gap with the largest regional economies and reduce poverty significantly. Last year, however, growth was subpar and the poverty ratio increased.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Peru has been one of the top performers in Latin America since the turn of the century: robust growth has helped close the income gap with the largest regional economies and reduce poverty significantly.\n- Last year, however, growth was subpar and the poverty ratio increased.\n- While high commodity prices are an important tailwind, the economy is facing domestic headwinds.\n- The Odebrecht case led to the resignation of President Kuczynski, and the new cabinet has moved quickly to implement various measures and request special legislative powers from Congress.\n- The authorities have also been facing the challenge of rebuilding infrastructure following the extreme weather caused by El Niño in 2017."
    },
    {
      "heading": "Key findings and contextual factors",
      "content": "- Robust multi-decade growth has materially reduced poverty and narrowed income gaps with larger regional economies.\n- Recent performance: growth described as \"subpar\" in the most recent year covered; poverty ratio increased in that period.\n- External environment: high commodity prices provide an important tailwind.\n- Domestic challenges:\n  - Political disruption from the Odebrecht case, including the resignation of President Kuczynski.\n  - A new cabinet pursuing rapid policy measures and requesting special legislative powers from Congress.\n  - Significant infrastructure rebuilding needs following El Niño (2017)."
    },
    {
      "heading": "Subject classifications and keywords",
      "content": "- Subject: Currencies, Expenditure, External debt, Financial institutions, Loans, Money, Public debt, Public investment and public-private partnerships (PPP)\n- Keywords: accommodative monetary policy stance, central bank, CR, Currencies, Global, headline inflation, IMF World Economic Outlook, income tax tax revenue, ISCR, liability positions vis-à-vis nonresident, Loans, potential GDP, Public investment and public-private partnerships (PPP), rate, staff appraisal\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 25, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484369203.002",
    "Peru has been one of the top performers in Latin America since the turn of the century: robust growth has helped close the income gap with the largest regional economies and reduce poverty significantly.",
    "Last year, however, growth was subpar and the poverty ratio increased.",
    "While high commodity prices are an important tailwind, the economy is facing domestic headwinds.",
    "The Odebrecht case led to the resignation of President Kuczynski, and the new cabinet has moved quickly to implement various measures and request special legislative powers from Congress.",
    "The authorities have also been facing the challenge of rebuilding infrastructure following the extreme weather caused by El Niño in 2017.",
    "Robust multi-decade growth has materially reduced poverty and narrowed income gaps with larger regional economies.",
    "Recent performance: growth described as \"subpar\" in the most recent year covered; poverty ratio increased in that period.",
    "External environment: high commodity prices provide an important tailwind.",
    "Domestic challenges:",
    "Subject: Currencies, Expenditure, External debt, Financial institutions, Loans, Money, Public debt, Public investment and public-private partnerships (PPP)",
    "Keywords: accommodative monetary policy stance, central bank, CR, Currencies, Global, headline inflation, IMF World Economic Outlook, income tax tax revenue, ISCR, liability positions vis-à-vis nonresident, Loans, potential GDP, Public investment and public-private partnerships (PPP), rate, staff appraisal",
    "**Country Report**"
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