Peru is governed by a stable legal framework established by the constitution, which was ratified in 1993 and serves as the backbone of the economic model that has sustained the country’s structural reforms over the years. Peru’s principle laws have remained largely the same since the 1990s, although there have been some new regulations introduced in more recent times, including legislation…
Interview:Ricardo Guevara Bringas How widespread is arbitration in the legal system? RICARDO GUEVARA BRINGAS: The World Bank’s “Doing Business 2019” report ranked Peru 70th out of 190 economies in terms of enforcing contracts. Collecting debt takes an average of 426 days, given the excessive time Peruvian courts take to evaluate claims. As such, the use of arbitration to settle business…
This chapter introduces the reader to the different aspects of the legal system in Peru, in partnership with RGB Avocats. It also contains an interview with Ricardo Guevara Bringas, Corporate Lawyer and Partner, RGB Avocats.…
Peru has maintained the legal framework adopted by the constitution of 1993, favouring a free market economy designed to promote and attract private investments. Indeed, it is through this framework that Peru has seen almost three decades of uninterrupted economic growth, despite the effects of the global financial crisis of 2008. Fight Againts Corruption Nevertheless, there have been some…
Despite a challenging external environment, Peru’s annual average GDP growth has exceeded 5% over the last decade. However, the economy suffered in 2017 as a result of further damage inflicted by El Niño, and inflation averages approximately 3.25% per year. Economic growth began to recover in 2018, with GDP expanding by 4.1%, though this is expected to moderate to 3.7% in 2019 and 2020. While P
In English En un esfuerzo por aumentar la confianza de los inversionistas e impulsar el desarrollo de proyectos mayores de infraestructura, luego del escándalo de corrupción de Odebrecht, Perú ha adoptado medidas para lograr una mayor transparencia a la hora de otorgar obras públicas de gran envergadura. En enero, el Ministerio de Economía y Finanzas (MEF) publicó los criterios diseñados…
With an average growth rate of 5.9% over the past decade, Peru’s economy has consistently outperformed most regional neighbours. Politically, the country has recently emerged from a period of instability and security concerns to rank among the top investment destinations in the developing world. Indeed, after a political transition that threatened business confidence and investment projects in t
Since the 1990s Peru has had a stable legal framework, guaranteed by the constitution, which serves as the backbone of the economic model that has sustained the country’s structural reforms during recent years. Peru currently has a corporate, tax, labour, private property, foreign investment and public bidding framework that is attractive to domestic and foreign private investments. Furthermore,…
Interview:Fernán Altuve-Febres Lores To what extent is the existing tax framework attractive to potential investors? FERNAN ALTUVE-FEBRES LORES: The normative fiscal framework that Peru has in place is adequate to attract investment. The challenges that investors find have less to do with the framework itself, but more to do with administrative hurdles. There are too many requisites to constitute…
Over the last decade Peru has consistently been the fastest-growing economy in Latin America, and unlike some of its neighbours, has been remarkably resilient to global headwinds, registering positive growth rates for an uninterrupted 18 years through to 2016. While the pace of growth has slowed as the long commodities boom ebbed after 2012, Peru recorded an average annual growth rate of 5.9% in 2