In early 2016 Peru launched a new mobile payments system called billetera móvil (mobile wallet) or BIM. While there have been numerous mobile payment systems introduced around the world, frequently as rival alliances between competing telecoms and banking players, this particular project stands out for being a collaborative venture...
Economists have various ways of defining and measuring informality. According to the government think tank National Centre of Strategic Planning (Centro Nacional de Planeamiento Estratégico, CEPLAN), the informal economy includes any economic activity conducted outside of the reach of state regulation. The informal sector is also described as all economically productive units...
Peru’s banking system is widely seen as one of the most stable and well regulated in Latin America. At one level the main banking sector story in 2017 is how this essentially solid services industry will adapt to Peru’s gradual transition from annual growth rates of 7-8% during the commodity boom to a more moderate medium-term average growth...
The Peruvian economy is at a crossroads. Over the last two decades it has been one of the fastest-growing economies in the region, enjoying macroeconomic stability, a strong mining sector, an open economy, and growing agro-industry and services sectors. Unlike some of its neighbours, Peru has been remarkably resilient to global headwinds....
Steady economic growth in Peru may have masked a potential problem: investment has been falling over the last three years. The country’s GDP grew by 2.4% in 2014, 3.3% in 2015 and 3.9% in 2016, an impressive performance in the context of low commodity prices and contraction of some of the larger economies in Latin America. But across those...
Arequipa is a key mining region in southern Peru, topping national production in copper and molybdenum in 2016, largely as a result of the recent expansion of operations at the Cerro Verde mine. According to the Ministry of Energy and Mines ( Ministerio de Energía y Minas, MINEM), as of January 2017, Arequipa had a mining investment portfolio...
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