Peru Best Positioned Among Counterparts For Possible Global Crisis – IMF
Peru is best positioned among Latin American countries to ward off the impact of a global economic crisis similar to the one in 2008, the International Monetary Fund said.
The IMF pointed to Peru’s strong economic growth during recent years, which has helped strengthen its finances and lower its public debt to about 20 percent of its gross domestic product, state news agency Andina reported.
“Peru is the best positioned in the event of a global economic collapse, followed by Bolivia, Chile and Paraguay… these would be the least affected,” the IMF said.
At the bottom of the list are Venezuela and Argentina. “Those countries would suffer from a reduction in their budget, even if there were moderate global impacts,” the IMF said.
Peru’s economy is expected to have expanded 6.4 percent in 2012. It could grow up to 7 percent in the first quarter of this year compared to the year-earlier period.