Peru has the region’s best “economic climate” in Latin America, according to a report published by Brazil’s Getulio Vargas Foundation, or FGV.
According to the report, Latin America’s Economic Climate Index, or ECI, surged from 2.9 points in January to 3.6 points in April 2009. The jump, according to FGV economists, suggests that “rock bottom” has been hit, and that the region is on its way to economic and financial recovery.
Last January, Latin America’s ECI was at 2.9 points, its lowest since January 1990.
All Latin American countries, with the exception of Argentina, Bolivia, Uruguay and Venezuela, ranked in a higher ECI in April that what was recorded in January. The highest ECI was that of Peru – with a score of 5.7 – surpassing former ECI-champ Uruguay (5.4), and Brazil (4.7).
The ECI, a unit of measure established by the FGV and Germany’s IFO Institute, in measured on a scale of 1 (minimum) to 9 (maximum).
The FGV, a Brazilian high education institution founded in 1944, produces a large amount of academic research on macro and micro economics, finance, business, decision-making, law, health care, unemployment, and environmental issues. The FGV also executes projects at the request of the public sector, private enterprise and international agencies such as the World Bank and the Inter-American Development Bank (IDB).
