10:51 | New York, oct. 27.
The Governor of the Central Reserve Bank of Peru (BCRP), Julio Velarde Flores, has advised taking advantage of the “very good moment” currently being experienced by the Peruvian economy, while noting that internal and external risks could still impact its growth outlook.
He made these remarks yesterday during the first day of the 19th inPERU Roadshow in New York, in a discussion with Luis Oganes—Head of Global Macroeconomic Research at J.P. Morgan—regarding the outlook for the Peruvian economy, the international interest-rate landscape, and monetary policy.
Velarde highlighted the robustness of the country’s macroeconomic fundamentals, underpinned by the Central Bank’s autonomy, monetary stability, and a strong position in international reserves.
According to figures presented by the BCRP, Peru's international reserves accounted for approximately 26% of GDP as of September 2026—the highest ratio in Latin America.
He further noted that Peru has recorded one of the lowest inflation rates in the region so far this century and continues to maintain favorable conditions for investment, including equal treatment for domestic and foreign investors, the free movement of capital, and an extensive network of trade agreements.
“We are experiencing a very good moment for the Peruvian economy—a moment that should not be squandered,” Velarde emphasized.
Nevertheless, he cautioned that it is essential to address internal and external risks that could affect growth prospects.
Meanwhile, Peru’s Minister of Economy and Finance, Elmer Cuba—who is also part of the delegation for the 19th inPERU Roadshow—highlighted the 15.5% growth in private investment in Peru achieved during the first half of this year. Furthermore, the head of the Ministry of Economy and Finance (MEF) projected an average economic expansion of 3.8% between 2026 and 2030.
With the participation of the heads of the Central Reserve Bank of Peru (BCRP) and the Ministry of Economy and Finance (MEF), the first day of the 19th Roadshow (yesterday Monday 26th) took place in New York, where the country’s macroeconomic strengths and investment opportunities were presented to international investors.
The mission, which includes more than 80 representatives from the public and private sectors, aims to strengthen confidence in the Peruvian economy and promote new investments that contribute to growth and job creation.
The day began with a private roundtable with investors, organized by BTG Pactual, followed by a luncheon at the offices of DLA Piper.
Subsequently, the delegation participated in the main event held at the J.P. Morgan headquarters, titled “Peru: A New Agenda for Growth, Public Policy, Markets, and Global Capital,” which brought together economic authorities, business representatives, and international investors.
During his presentation, Minister Elmer Cuba highlighted the resilience of the Peruvian economy and the dynamism of private investment, even in the face of the effects of the El Niño phenomenon.
“In 2026, the Peruvian economy remains on a growth trajectory and demonstrates resilience against the impact of the El Niño phenomenon. Between January and August, GDP grew by 3.1%—a figure that would have reached 4% were it not for the impact of this phenomenon. Domestic demand expanded by 5.9%, and private investment grew by 15.5% during the first half of the year, reflecting the dynamism of consumption and investment as drivers of economic activity,” he stated.
The head of the MEF also underscored the conditions Peru offers for attracting international capital, supported by its macroeconomic fundamentals, trade openness, natural resources, and opportunities for developing large-scale infrastructure projects.
“Peru offers favorable conditions for attracting foreign investment, thanks to its solid macroeconomic fundamentals, its openness to trade, the diversity of its natural resources, and the opportunities for developing large-scale infrastructure projects,” said Minister Elmer Cuba.
“Projections from the Ministry of Economy and Finance estimate an average economic growth of 3.8% between 2026 and 2030—a rate higher than that of Argentina or Colombia. Furthermore, there is a legal framework that provides legal certainty, along with a development vision aimed at creating new opportunities for investment, employment, and sustainable growth,” he added.
Minister Cuba also presented the agenda of structural reforms being advanced by the government to boost the country’s productivity and competitiveness, promote the formalization of labor, and expand financial inclusion—as well as initiatives aimed at improving the management of public investment and strengthening fiscal sustainability.
The agenda at J.P. Morgan also included a panel on Peru’s access to the international bond market, featuring Michela Casassa, Chief Financial Officer (CFO) of Intercorp Financial Services; Luis Alfonso Carrera, a senior executive at BCP; and Lisandro Miguens, Head of Latin America Debt Capital Markets at J.P. Morgan. The experts analyzed the outlook for Peruvian sovereign and corporate financing, as well as the opportunities presented by international capital markets.
inPERU seeks to translate investor interest into concrete projects.
Mercedes Araoz, President of inPERU, emphasized the importance of keeping Peru on the radar of international investors and leveraging the country’s economic strengths to drive new projects.
“This visit allows us to demonstrate that Peru possesses solid macroeconomic fundamentals and concrete opportunities for private investment. Private investment remains highly dynamic, even in a context where challenges—such as the El Niño phenomenon—persist,” she noted.
Meanwhile, Juan Carlos Mandujano, Executive Director of inPERU, highlighted that the roadshow facilitates a direct dialogue between the country’s key economic authorities, business representatives, and institutional investors.
“This first day has enabled us to strengthen direct engagement with international investors. Our goal is for these conversations to translate into new relationships, projects, and commitments that contribute to the country’s growth,” he stated.
The 19th inPERU Roadshow continues today, Tuesday, October 27, with meetings and presentations for international investors, organized in collaboration with the Council of the Americas, Bank of America, and Goldman Sachs.
The agenda will allow for a deeper exploration of the country’s economic outlook, investment opportunities, and the development of its capital markets.
About inPERU
inPERU is a private, non-profit association that promotes Peru as an investment destination and contributes to the development of its financial and capital markets. It was founded by the Peruvian Finance Association (APEF), the Association of Stock Brokerage Firms of Peru (ASAB), the Peruvian Association of Banks (Asbanc), the Association of Pension Fund Administrators (AAFP), the Lima Stock Exchange (BVL) and CAVALI—both subsidiaries of nuam—, and the National Confederation of Private Business Institutions (Confiep).
Currently, inPERU also brings together a broad group of companies and trade associations representing various sectors of the Peruvian economy.
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(END) NDP / MDV
Published: 10/27/2026