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OECD recognizes Peru's strong progress in social aspects and macroeconomic stability

16:25 | Lima, Nov. 5.

The Head of Latin America and the Caribbean at the OECD Development Centre, Sebastian Nieto, noted on Tuesday that Peru has made significant progress in macroeconomic stability and social matters.

"Peru is a country that has made enormous progress in macroeconomic stability and social aspects, and we have seen this exemplified in the joint work we carry out within the Country Programme," he stated.

Peru relies on a solid foundation in fiscal and monetary aspects. Thus, its public debt is "completely sustainable," which is appreciated by investors.

"Nowadays, the risk premium (of Peruvian sovereign bonds) is lower than the Latin American average," he added.

Middle class, the most rapidly growing segment

On the social side —he went on to say— Peru is one of the countries in the region where the middle class has grown the most during the past decade, with a parallel reduction in poverty.

"We are talking about 40% of the middle class. Besides, poverty in Peru showed a significant decline over the last decade," he underlined.

Nieto remarked that the Organisation for Economic Co-operation and Development (OECD) has carried out a range of analyses in Peru, which were framed within a multidimensional study.

(END) RGP/JJN/RMB/MVB

Published: 11/5/2019
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