stated that Peru is the Latin American nation that has recorded single-digit inflation for the longest consecutive years, almost 29 years.
The economist added that during COVID-19 the reference rate in the country dropped to nearly zero, the lowest in the entire region (0.25%).
The BCR chief emphasized that these indicators can be achieved through credibility.
"By having credibility, we do not have to do exceptional things; we do not have to adjust so much," Velarde noted.
"What we have achieved in these years is an increasingly professional Central Bank, which is extremely important, (...) No politician, congressman, minister, or president has ever thought of suggesting a name to join the Central Bank," he stressed.
Recognition
The
National Society of Industries (SNI) on Thursday paid tribute to the
BCR Governor for his great contribution to macroeconomic stability in addressing the major economic and social challenges that Peru has experienced in recent decades such as the great crisis (2008) and the COVID-19 pandemic (2020).
SNI Chairman Felipe James presented the economist with a diploma and a commemorative plaque on behalf of the industrial guild's board of directors.
Similarly, James highlighted as one of Velarde's greatest legacies "having demonstrated that in Peru it is possible to build institutions which transcend governments and international crises."
"When investors from around the world analyze Peru, they often wonder how it is possible that, despite the political chaos, the economy remains stable. The answer has a name and surname: Julio Velarde," the guild leader emphasized.
Abroad
Thanks to his great work, any guild representative, authority, or executive from the private sector who travels abroad representing Peru does so with confidence, James underscored.
"All of us here can say, with gratitude and admiration, that we were lucky enough to live in the era when Julio Velarde is Governor of the Central Reserve Bank," he stated.
Impeccable Track Record
The SNI highlighted that, as described in various chronicles and reports, Velarde is an even-tempered banker who has guided the BCR with a firm hand.
He is identified as a leading public official who has achieved recognition from the business community, citizens, and his international peers, even more so now that Peru holds the longest period of single-digit inflation in Latin America.