Peru: First Review Under the Stand-By Arrangement and Requests for Modification of Performance Criterion and Waiver for Nonobservance of Performance Criterion

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 099

Publication date: March 2007

ISBN: 9781451831115

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Topics covered in this book

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Banks and Banking , Exports and Imports , Investments and Securities-General , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , authority , executive board discussion , pension regime , government resource management , Peruvian authorities , private sector investment , Public sector , International reserves , Pension spending , Global

Also of interest

Peru

Nepal

Grenada

Republic of Congo : 2001 Article IV

Summary

The staff report for the First Review Under the Stand-By Arrangement and Requests for Waiver of Performance Criterion and Waiver for Nonobservance of Performance Criterion highlights Peru’s policy discussions and staff appraisal. A draft law was prepared with a view to establishing sanctions for noncompliance with the law’s fiscal deficit target. Monetary policy continues to be managed prudently within the inflation-targeting framework. The central bank expects dollarization to gradually decline as a result of sound economic policies and strong bank supervision.