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Andean Group - May 2012 (ISSN 1741-4466)

ECONOMIC OVERVIEW: PERU

The Peruvian economy has proved to be one of Latin America’s most stable in recent years; there is now further indication that the country is in an increasingly strong position, which can help it face global economic uncertainty with confidence. On 13 May Peru’s central bank (BCRP) revealed that its net international reserves (NIRs) now stand at US$58.38bn, US$888m higher than at the close of the previous month. The BCRP highlighted that this increase was driven by increases in bank deposits, valued at US$810m, and the continued purchase of foreign currency by the central bank, to the tune of US$281m, to maintain its exchange rate policy.

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