Peru: Staff Report for the 2002 Article IV Consultation, First Review Under the Stand-By Arrangement, and Request for Modification and Waiver of Performance Criteria

International Monetary Fund

No 2003/072, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper examines Peru’s 2002 Article IV Consultation, First Review Under the Stand-By Arrangement, and a Request for Modification and Waiver of Performance Criteria. The fiscal policy was tightened in early 2002 from the expansionary stance in the second half of 2001. The baseline medium-term outlook is favorable, albeit not without risks. Assuming sound macroeconomic policies and structural reforms continue, Peru should be able to achieve medium-term growth of 5 percent. However, the domestic political situation contains clear risks, potentially holding up tax reform and undermining fiscal discipline.

Keywords: ISCR; CR; government; economy; stand-by agreement; staff appraisal; inflation targeting framework; financing plan; review of Peru; International reserves; Public sector; Private investment; Global (search for similar items in EconPapers)
Pages: 87
Date: 2003-03-14
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