Advanced Search

LatinNews Daily - 10 February 2021

Click here for printer friendly version
Click here for full report

In brief: IMF revises up growth projections for Peru

* The International Monetary Fund (IMF) has revised up its prediction for GDP growth in Peru in 2021, from 7.3% to 9%, bolstered by the start of vaccination against the coronavirus (Covid-19) on 9 February. The IMF expects Peru to see the fastest GDP growth in 2021 of any of Latin America’s major economies, but noted that the deep contraction of Peru’s economy in 2020 (estimated at -12%) means that it will not recover to pre-pandemic levels until 2022 at the earliest. The onset of a ‘second wave’ of the pandemic in Peru in January, combined with the country’s struggle to acquire vaccines, had prompted concerns that GDP could take a further hit in 2021; however, vaccination has now begun following the arrival of Chinese-manufactured Sinopharm vaccines, with interim president, Francisco Sagasti, the first to be vaccinated, followed by frontline healthcare workers.