IDB says Peru’s economy “robust” in face of global crisis

Peru’s economy is “robust” in the face of any international crisis like that affecting the United States and Europe, the Inter-American Development Bank (IDB) has said.

IDB representative in Peru, Fidel Jaramillo, stated that Latin America is well prepared to handle the effects of a global recession.

Jaramillo noted that Latin America has done an excellent job with the macroeconomic and financial management, thus accumulating a large amount of forex reserves.

"This is clear in the case of Peru, where all its indicators show great strength," he told Andina.

However, Jaramillo pointed out that "according to some IDB studies, one of the possible scenarios includes a slowdown in developed countries and a decrease in economic growth rates in other nations."

In this regard, he noted that "the challenge of the Peruvian government will be to strengthen the counter-cyclical policies to mitigate the financial crisis' impact on growth, but in the case of Peru, it will remain robust." (Andina)