Country Profile
From The Report: Peru 2019
View in Online Reader

Peru is a major producer and exporter of copper and gold, as well as a prolific exporter of liquefied natural gas, seafood and agricultural products. In addition, it is a popular tourist destination, with 4.5m tourists visiting annually, bringing in annual revenue of $5bn. On the whole, 2018 was considered a recovery year for the economy, with investment in mining increasing by 25% over the previous year. President Martín Cornejo Vizcarra also took office in 2018, which has calmed the political environment. The outlook for 2019 is positive, with more large-scale investment in infrastructure and mining ahead. As Lima prepares to host the Pan-American Games in July, there is optimism that it will restore Peru’s image of economic prosperity with an investor-friendly framework and political stability. This chapter contains a viewpoint with Martín Vizcarra Cornejo, President of Peru; and an interview with Néstor Popolizio, Minister of Foreign Affairs.

Articles from this Chapter

Overview

Rich in history: An introduction to Peru’s past and culture
OBG
plus

Peru is a major producer of copper and gold, as well as a prolific exporter of liquefied natural gas, seafood and agricultural products. In addition, it has significant oil and gas reserves, and is a major tourist destination, with some 4.5m tourists visiting annually. Many of these visitors flock to the country’s Incan archaeological sites, including Machu Picchu, Lima, Cusco, Arequipa, Lake Titicaca and the vast Amazonian region. Tourism brings in about $5bn in annual revenue, and the…

Viewpoint

A new foundation: President Martín Vizcarra Cornejo, on using fiscal reform and labour policy to stabilise the investment climate
OBG
plus

Viewpoint:President Martín Vizcarra Cornejo When we took power in 2018 the country’s economic situation was far from ideal. In addition to sluggish growth rates, the country was going through a period of high political polarisation that generated an atmosphere of uncertainty, which was reflected in declines of both growth and investment. In 2017, for the first time in this millennium, poverty increased in Peru. This is an indicator that should worry us all. We cannot remain indifferent…

Overview

Political balance: Return to more stable democracy hints at peaceful times ahead
OBG
plus

Peru’s political climate has been affected by deep structural problems due to the country’s peculiar democratic framework, with the hybrid presidential-parliamentary system prone to deadlock. There are promising signs of change, however, as the administration of President Martín Vizcarra Cornejo looks set to bring about an era of stability after a series of corruption scandals. Corruption Effects The April 2019 suicide of Peru’s former president, Alan García (in power between 1985…

Interview

Multilateral equilibrium: Néstor Popolizio, Minister of Foreign Affairs, on opportunity and crisis management motivating bloc cooperation
OBG
plus

Interview:Néstor Popolizio What is the status of Peru’s OECD accession? NÉSTOR POPOLIZIO: While Peru is prepared to join the OECD, that does not depend solely on our technical advances or capabilities – member states must unanimously extend an invitation to our country to join the OECD. We expect that the meetings scheduled in the second half of 2019 will provide greater clarity on the issue. Peru has made substantial progress in implementing its OECD Country Programme with respect…