Education is at the heart of an ambitious agenda to diversify Saudi Arabia away from reliance on hydrocarbons and transform it into a knowledge-based economy by 2025. With this in mind, the Kingdom has stepped up investment in the education sector and in the young people who will be expected to drive that new economy, but policymakers face the challenge of rapid population growth. However,...
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The development of Peru’s capital markets continues apace, driven by the growing number of increasingly sophisticated local institutional investors. Though the Lima Stock Exchange (Bolsa de Valores de Lima, BVL) started 2014 off poorly, with stock prices falling significantly on the gradual withdrawal of monetary stimulus by the US Federal Reserve and the effect of geopolitical tensions...
With a record of consistent profitability and credit growth, the banking sector has ridden the wave of Peru’s economic expansion during the past decade. As of June 2014, direct lending by the banking sector stood at PEN211.7bn ($75.58bn), having increased by 16% over the previous year. A firm regulatory environment is credited with having ensured that the country’s banks made it through the...
Following the end of the commodities supercycle that sustained Peru’s economic growth at an average rate of 6.4% per annum since the mid-2000s, the country saw growth fall sharply over the course of 2014. However, this slowdown is widely seen as a temporary lull, attributable in part to delays in some major mining developments, and the government has sought to counteract the current situation...
Over the past four decades Peru’s political and social forces have been seeking a magic formula: an optimum combination of good governance, strong economic growth and poverty alleviation. Despite the occasional swings of the policy pendulum, the past decade has seen real signs of progress. In the post-Fujimori period a succession of presidents have maintained broadly market-friendly economic...
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