LatinNews Daily - 18 January 2021

In brief: Peru’s central bank remains hopeful of economic growth in 2021

* Peru’s national statistics institute (Inei) has announced that domestic economic activity contracted by 2.8% year-on-year in November 2020 – the strongest monthly performance since before the onset of the coronavirus (Covid-19) pandemic. Inei further reported a GDP contraction of 12.4% in the first 11 months of 2020; Peru's central bank (BCRP) estimates that the economy declined by a total of 12.7% in 2020 as a whole. However, the BCRP’s director of economic studies, Adrián Armas, noted that the bank has maintained its projection for 11.5% growth in 2021, insisting that the threat of a ‘second wave’ of the pandemic “did not have a significant impact on projections for the year”.

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