Assessment and recommendations

The Republic of Peru is the sixth most populous state in Latin America and the seventh largest economy in the region (OECD, 2014). With an average economic growth rate of 5.3% between 2000 and 2014, the country stands out as one of the most rapidly evolving economies in Latin America, driven by significant reform and impressive economic momentum. This momentum, sustained by a combination of prudent macroeconomic policies, the country’s abundant natural resources and thorough structural reforms, has enabled Peru to make impressive socio-economic progress in recent years. These socio-economic advances are all the more outstanding as consecutive military coups, social unrest and recurring economic crises have negatively affected the country’s governance frameworks while eroding trust in public institutions.