Peru: Selected Issues Paper

International Monetary Fund

No 2012/027, IMF Staff Country Reports from International Monetary Fund

Abstract: Peru’s fiscal framework embedded in the Fiscal Responsibility and Transparency Law (FRTL) has proved to be effective in reducing debt. The FRTL embodies some countercyclical elements in response to output or commodity price shocks. The combination of a provision for a moderate deficit on the downside, and a current expenditure cap on the upside, allows for some countercyclical policy. It still has pockets of procyclicality in the face of large shocks to output or commodity prices.

Keywords: ISCR; CR; Peru; commodity price; GDP; central bank; poverty reduction; BoE executive; financial system; comparative advantage; trend output; Financial sector stability; Macroprudential policy; Fiscal stance; Commodity prices; Global; Africa; Caribbean (search for similar items in EconPapers)
Pages: 44
Date: 2012-02-01
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25701 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2012/027

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().