Press Release No. 15/423

Press Release: IMF Unveils New Book on Peru’s Economy Ahead of 2015 Annual Meetings

September 17, 2015

The International Monetary Fund (IMF) today released a new book on the Peruvian economy as the country prepares to host the 2015 IMF and World Bank Annual Meetings in Lima, the first Meetings in Latin America in almost 50 years. The book entitled “Peru: Staying the Course of Economic Success” was presented at an event jointly hosted by the IMF, Mr. Alonso Segura, Finance Minister of Peru and Julio Velarde, President of the Central Bank of Peru.

The book, which was written by renowned Peruvian economists and IMF staff, offers a complete picture of the Peruvian economy covering the country’s trajectory from a debt crisis in the 1980s until the constitution of reserves that allowed the country to weather the global financial crisis. The work also analyses the measures that allowed Peru to reaching this level of stability, including the fiscal transparency law passed in 1999, which is generally considered the cornerstone of the fiscal recovery of Peru, and that paved the way to a modern and more efficient fiscal framework.

“Peru: Staying the Course of Economic Success” provides a thorough review of the factors contributing to the success of fiscal and monetary policies, taxation administration, public financial management and public-private partnerships. In addition, the book also looks into the important future challenges facing the Peruvian economy, including the pending tasks on fiscal and monetary policy, as well as measures to ensure an inclusive social policy growth.

“This is a timely book on Peru’s economic success story in the past decade. It provides an in-depth analysis on the factors that contributed to Peru’s strong performance over the recent past and the challenges that it faces going forward. Peru’s experience offers a useful reference about the challenges to successfully transforming an emerging market economy,” stated Alejandro Werner, Director of the Western Hemisphere Department at the IMF.

The event launching the book was organized as part of the “Road to Lima” campaign, a joint initiative between the IMF and the government of Peru leading up to the Annual Meetings of the World Bank and the IMF in Lima from October 9 to 11, 2015.