{
  "title": "Peru: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru",
  "publication": "IMF Staff Country Reports, May 21, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/05/20/peru-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-549200",
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  "summary": "The 2024 Article IV Consultation with Peru discusses that the economy is recovering from consecutive climate-related shocks and social turmoil at the beginning of 2023.",
  "sections": [
    {
      "heading": "Economic overview and recent developments",
      "content": "- The economy is recovering from consecutive climate-related shocks and social turmoil at the beginning of 2023.\n- Inflation has receded thanks to the central bank’s decisive monetary policy tightening.\n- The fiscal position and the financial system remain strong.\n- The country is in a period of relative political stability, but lingering political uncertainty is denting the appetite for pressing reforms to boost potential growth.\n- Evolving risks are broadly balanced, and Peru has ample buffers to cope with adverse shocks, although the outlook remains uncertain."
    },
    {
      "heading": "Risks and scenarios",
      "content": "- Key domestic risks:\n  - Intensification of political uncertainty.\n  - Social unrest.\n  - Climate-related shocks.\n- Key external risks:\n  - Weak trading-partner growth.\n  - Commodity price volatility.\n  - A sharp tightening of global financial conditions.\n- Upside scenario:\n  - A stronger recovery in confidence could support stronger private consumption and investment growth."
    },
    {
      "heading": "Strengths and buffers",
      "content": "- Strong buffers reinforcing macroeconomic resilience:\n  - Relatively low public debt.\n  - Abundant international reserves.\n  - Access to international capital markets on favorable terms."
    },
    {
      "heading": "Policy implications and priorities",
      "content": "- Continued monetary vigilance to ensure inflation remains contained (consistent with the central bank’s prior decisive tightening).\n- Fiscal policy to preserve the strong fiscal position while supporting recovery—address lingering political uncertainty that is impeding reform momentum.\n- Strengthen resilience to climate-related shocks and social disruptions to protect potential growth and financial stability.\n- Policies to restore and bolster confidence to unlock stronger private consumption and investment."
    },
    {
      "heading": "Publication and metadata (as provided)",
      "content": "- Pages: 100\n- Volume: 2024\n- Issue: 133\n- Series: Country Report No. 2024/133\n- DOI: https://doi.org/10.5089/9798400276514.002\n- Stock No: 1PEREA2024001\n- ISBN: 9798400276514\n- ISSN: 1934-7685\n- Date on landing page: May 21, 2024\n- Subjects: Credit, Currencies, Economic sectors, International organization, Monetary policy, Money, Public debt, Public sector\n- Keywords: authorities' fiscal consolidation path, budget projection, Credit, Currencies, Global, Public sector, staff appraisal, staff baseline projection, World Bank Group lending\n- Supplementary note: IMF eLibrary offers over 25,000 IMF publications in multiple formats.\n\nPeru: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru, International Monetary Fund, May 21, 2024.\n\n---\n\n Content in this bundle\n\n- 1perea2024001\n  - 1perea2024001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1perea2024001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 21, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400276514.002",
    "The economy is recovering from consecutive climate-related shocks and social turmoil at the beginning of 2023.",
    "Inflation has receded thanks to the central bank’s decisive monetary policy tightening.",
    "The fiscal position and the financial system remain strong.",
    "The country is in a period of relative political stability, but lingering political uncertainty is denting the appetite for pressing reforms to boost potential growth.",
    "Evolving risks are broadly balanced, and Peru has ample buffers to cope with adverse shocks, although the outlook remains uncertain.",
    "Key domestic risks:",
    "Key external risks:",
    "Upside scenario:",
    "Strong buffers reinforcing macroeconomic resilience:",
    "Continued monetary vigilance to ensure inflation remains contained (consistent with the central bank’s prior decisive tightening).",
    "Fiscal policy to preserve the strong fiscal position while supporting recovery—address lingering political uncertainty that is impeding reform momentum.",
    "Strengthen resilience to climate-related shocks and social disruptions to protect potential growth and financial stability.",
    "Policies to restore and bolster confidence to unlock stronger private consumption and investment.",
    "Pages: 100",
    "Volume: 2024",
    "Issue: 133",
    "Series: Country Report No. 2024/133",
    "DOI: https://doi.org/10.5089/9798400276514.002",
    "Stock No: 1PEREA2024001",
    "ISBN: 9798400276514",
    "ISSN: 1934-7685",
    "Date on landing page: May 21, 2024",
    "Subjects: Credit, Currencies, Economic sectors, International organization, Monetary policy, Money, Public debt, Public sector",
    "Keywords: authorities' fiscal consolidation path, budget projection, Credit, Currencies, Global, Public sector, staff appraisal, staff baseline projection, World Bank Group lending",
    "Supplementary note: IMF eLibrary offers over 25,000 IMF publications in multiple formats.",
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