CAF Applauds Peru’s Path Towards Sustainable Development

The Andean Development Corporation, CAF, said Tuesday that Peru is on the right path to sustainable development in the long term, according to the country’s state news agency Andina.

Jose Carrera, the vice president of social development at CAF, said that Peru has experienced important growth with equity, which has improved the lives of the country’s poorest.

“The poorest are the ones that need to improve their quality of life, their conditions and health, fundamental elements for an economy to have sustainable development in the long term,” he said. “Peru is moving in that direction.”

Carrera warned, however, about complacency and said much more needs to be done.

Peru’s economy has been one of the fastest growing over the last decade, boosted by high commodity prices and supported by strong fiscal management. Nevertheless, still about 30 percent of the population lives in poverty, a rate that is much higher in the country’s isolated highland and jungle regions.

Carrera said it is important for countries in Latin America, including Peru, to continue to invest in reducing the poverty rate.

“Countries have to invest in social and economic infrastructure, have massive transportation systems, with water and health, among others, which will allow the improvement of human capital and better prepare citizens to take on future challenges,” he said.

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