Peru: Third Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Execut

Third Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 258

Publication date: July 2008

ISBN: 9781451831160

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , inflation expectation , poverty alleviation strategy , risk , staff , assessment of the risk , intervention regime , Peruvian inflation , Public sector , Inflation , International reserves , Global

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Nepal

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Republic of Congo : 2001 Article IV

Summary

This paper discusses key findings of the Third Review for Peru and Inflation Consultation Under the Stand-By Arrangement. All performance criteria for end-December 2007 and end-March 2008 were observed, but inflation in March exceeded the upper limit of the program’s consultation band around the official inflation target range. The end-March structural benchmark was observed and progress has been made on end-June benchmarks. The outlook for 2008 remains favorable, with the economy continuing its strong momentum, as downside global risks are buffered by improvements in fundamentals and prudent policies.