Andina

Ambassador: APEC 2024 to strengthen Peru's image before international community

Photo: ANDINA/Eddy Ramos

Photo: ANDINA/Eddy Ramos

18:30 | Lima, Aug. 14.

2024 APEC Senior Officials' Meetings (SOM) Chair Carlos Vasquez on Wednesday stated that holding the APEC Leaders' Summit this year will contribute to improving and strengthening Peru's image as a country relying on solid macroeconomic foundations before the international community.

"What the APEC forum can generate is to strengthen and enhance the perception of Peru as a country with macroeconomic stability and inflation under control, unlike our neighbors in the region," he said at the presentation of the Voices of the Future Advisory Council, within the framework of preparatory meetings for the 2024 Asia-Pacific Economic Cooperation (APEC) forum.

Ambassador Vasquez referred to the case of Argentina which, despite the implemented stabilization processes, continues to register high inflation rates. 

Furthermore, the diplomat underlined that Peru has a good level of International Reserves.

The Central Reserve Bank (BCR) recently reported that Net International Reserves (NIR) in the first seven months of 2024 increased by US$5.156 billion and now account for 27% of Peru's Gross Domestic Product (GDP).  

"We are doing well in macroeconomic terms; the problem is that it is not enough for a country to take off. It is necessary to make structural reforms, which is a topic of broad debate within APEC," he said.

Global challenges

As part of the Voice of Future initiative, 120 young citizens from the 21 APEC economies will meet in Lima this November to discuss global challenges and generate proposals to address the region's future.

"The event, scheduled for November 2024, will offer a space for discussion on global challenges within the framework of APEC meetings in Peru," said USIL Educational Corporation Internationalization Department Vice-Chairman Juan Carlos Mathews.

The APEC Peru 2024 forum will address key issues such as sustainable growth and resilient development; interconnected and inclusive growth; resilience and youth empowerment; innovation and digitalization.

Peru is hosting APEC for the third time after the 2008 and 2016 editions.


(END) SDD/MVB

Published: 8/14/2024