Following project delays caused by a high-profile corruption scandal at Brazil’s construction giant Odebrecht, which rippled across Latin America, the construction sector is at last refinding its financial footing. After nine consecutive months in negative territory, credit to the sector posted 0.56% year-on-year growth in March 2018, to PEN4....
Despite the deceleration of the Peruvian economy in 2017, driven in large part by the simultaneous impacts of the El Niño climate cycle and the corruption scandal at Brazilian construction giant Odebrecht, the banking sector has remained stable. According to international credit ratings agency Moody’s, at the close of 2017 the sector was...
Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...
After a political transition that threatened business confidence and investment projects in Peru, local and international economic agents have regained optimistic outlooks. As one of South America’s top performers due to its structural reforms and fiscal discipline, Peru is seeing an economic rebound due to rising commodity prices and an...
Ancient Peru was the centre of the Inca Empire, whose power and influence peaked between 1400 and 1533 CE. The empire’s religious and administrative centre, Cusco, is adjacent to the now world-renowned Machu Picchu archaeological site. The arrival of Spanish conquerors in 1532 marked the beginning of the end for the Inca Empire and the start...
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