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LatinNews Regional Monitor: Andean Group - 09 October 2018

In brief: Peru

*The International Monetary Fund (IMF) has released a new update on its global economic growth forecasts, which project that Peru’s GDP will increase by 4.1% this year. This new growth forecast is higher than the previous IMF forecast of 3.7% made in April and places Peru among the fastest growing economies in South America, along with Paraguay (4.4%), Bolivia (4.3%), and Chile (4%). The improved growth projection suggests that Peru’s domestic economy is set to fully recover from the slowdown it registered last year when it posted GDP growth of 2.5% on the back of heavy flooding that affected northern and central areas of the country; and the onset of the political crisis that led to the resignation of President Pedro Pablo Kuczynski in March this year.

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