Switzerland-based International Institute for Management Development (IMD) ranked Peru third in Latin America in its 2010 Global Competitiveness Yearbook, which was released on Wednesday.
The IIMD ranked Peru 41 out of 58 countries, up from 37 in 2009. Brazil ranked 38, a drop from 40 last year, while Chile scored the best of Latin American countries at 28.
Behind Peru was Colombia at 45, Mexico at 47, Argentina at 55 and Venezuela at the bottom of the list at 58.
According to a report by state news agency Andina, Peru’s position in this years IMD ranking demonstrates that the country needs to improve in technological development, infrastructure, and human capital, among other areas.
Peru’s sub-ranking in infrastructure was at almost at the bottom of the list. The country placed 57 with regards to infrastructure compared to 49 last year.
Peru saw an improvement in its government efficiency ranking, coming it at 35 this year compared to 41 in 2009.
The IMD ranked Singapore in first place, followed by Hong Kong and the United States in third. It is the first time in decades, the IMD said in a release, that the U.S. has not topped the chart.
“The IIMD ranked Peru 41 out of 58 countries, up from 37 in 2009. Brazil ranked 38, a drop from 40 last year,.. “.
I believe this statement from today’s post is backwards. Peru is down from 37 in 2009 and Brazil is up to 38 from 40 in 2009. No?