The success achieved by Peru as a result of its efforts to restructure its economy and the public policies adopted by the State combine into an experience that can be shared to other nations, Director of the Western Hemisphere Department at the IMF Alejandro Werner pointed out.
The IMF analyst indicated that the Peruvian success was due, in part, to the boom of metal prices or commodities.
“To many observer, it would be tempting to conclude that the raw materials boom in the past decade explains the economic success of Peru, but it would be more appropriate to say that success comes from effort and that’s exactly what Peru has made in the last 25 years,” he stated.
It is a “consistent” effort to restructure the economy, as attempt “to develop and apply a sound macro-economic policy framework.”
“This country made an important effort to build institutions that guarantee sustainable progress within the macro-economic policy framework observed in the last years,” he said.
The IMF official explained that such efforts helped Peru “make the best use of the upward cycle in commodity prices and cope with the current international situation.”
This was in a context marked by a drop in metal prices, which is quite undeniable in commodities exporting countries of the region.