Peru: Selected Issues Paper

February 1, 2012

Preview Citation

Format: Chicago

Peru: Selected Issues Paper, (USA: International Monetary Fund, 2012) accessed December 23, 2024

Summary

Peru’s fiscal framework embedded in the Fiscal Responsibility and Transparency Law (FRTL) has proved to be effective in reducing debt. The FRTL embodies some countercyclical elements in response to output or commodity price shocks. The combination of a provision for a moderate deficit on the downside, and a current expenditure cap on the upside, allows for some countercyclical policy. It still has pockets of procyclicality in the face of large shocks to output or commodity prices.

Subject: Commodity prices, Financial sector policy and analysis, Financial sector stability, Fiscal policy, Fiscal stance, Macroprudential policy, Poverty, Prices

Keywords: Africa, BoE executive, Caribbean, Central bank, Commodity price, Commodity prices, Comparative advantage, CR, Financial sector stability, Financial system, Fiscal stance, GDP, Global, ISCR, Macroprudential policy, Peru, Poverty reduction, Trend output

Publication Details

Pages:

44
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/027
Stock No:

1PEREA2012002
ISBN:

9781463940423
ISSN:

1934-7685

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