IMF: Peru returns to metal price boom levels

10:49 | Lima, Apr. 19.

Peru is returning to boom levels, in terms of metal prices, which contribute to increasing the exports value of said goods, International Monetary Fund (IMF) Mission Chief Ravi Balakrishnan underlined.

According to Balakrishnan, the Latin American economic outlook is backed by a stronger external environment, since solid global growth and foreign trade boost the region's real exports.

"The real exports expansion is linked to a partial rebound in raw material (prices), particularly in countries exporting metals such as Chile and Peru. We are more or less at boom levels in terms of commodity prices," he explained.

It must be noted copper price has been recovering significantly since January 2016. Nowadays, the red metal costs US$3.18 per pound on the international market.

Likewise, such partial recovery in raw material prices has improved commodity exporters' outlook.

On the other hand, Balakrishnan pointed out that —despite the volatility in financial markets— conditions remain favorable for the Latin American region.

"In Latin America, the economic recovery is also seen in domestic demand, particularly in private investment. We expect a significant rebound in private investment in 2018 and 2019," he added.


Published: 4/19/2018