The managing director of the International Monetary Fund, IMF, Kristalina Georgieva, congratulated Peru on Friday for managing to reduce “significantly” inflation and highlighted the resilience of its economy in the midst of the onslaught of the climate.
Georgieva met with Peruvian President Dina Boluarte within the framework of the leaders’ summit of the Asia-Pacific Economic Cooperation Forum (Apec).
Consumer prices in Peru fell in October for the second consecutive month and annual inflation stood at 2.01%, to the middle of the central bank’s target range. The ratio has been progressively falling after registering an inflation of 8.46% in 2022, the highest annual measurement in more than a quarter of a century, mainly due to external factors.
“This is, without a doubt, a significant achievement”Georgieva said in the meeting broadcast by the local presidential office.
Earlier, The Peruvian statistics office reported that the economy of the third largest copper producer grew 3.16% year-on-year in September, the sixth consecutive monthly advance.
By 2024 the government expects an expansion of 3.1%, after recording a recession of 0.6% last year due to social protests, adverse effects of the climate and lower investment.
“It is not easy to respond to the great challenges represented by social unrest and the effects of climate change, which impact economic growth. However, we now see that they have a growth of around 3%; we want them to continue to grow more,” Georgieva said.
