Economy

In the 10 years to 2014 the Peruvian economy experienced rapid growth, averaging 6.2%, placing Peru among the fastest-growing economies in the region. In 2014 Peru was the seventh-largest economy in Latin America and Caribbean, with a GDP of $202.9bn. However, lower commodity prices and resulting lower export revenues for some of its key exports saw Peru’s growth slow considerably in 2015, to an estimated 2.5% according to the IMF. The El Niño weather pattern, which is expected to negatively affect the agriculture, fishing, trade and transport services sectors, the general elections in April, and slower demand from China are some of the challenges facing the Andean economy in 2016. Nonetheless, the IMF expects a rebound, forecasting growth of 3.3% for the year, driven primarily by increased mining activity. This chapter contains interviews with Alonso Segura, Minister of Economy and Finance; Ana Maria Carrasquilla Barrera, Chairman of the Board and Executive President, Latin American Reserves Fund; Carlos Herrera, Executive Director, ProInversión; and Dionisio Romero, President, Grupo Romero.