Country Profile
From The Report: Peru 2017
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Once known as a country scarred by economic and social upheaval, Peru has now experienced nearly two decades of economic growth alongside the continued establishment of democratic principles – increasingly so since the turn of the millennium. Buoyed by high commodity prices, the mineral-rich country grew at an average annual rate of 6.2% in the decade to 2014, cementing its status as one of the fastest growing economies in Latin America. Rapid growth also enabled Peru to make significant strides in improving social indicators, particularly in reducing poverty rates. However, the end of the commodity cycle saw GDP growth slow to a decade-low of 2.4% in 2014, as global commodity prices fell and Chinese demand for Peruvian minerals eased, sending Peru into uncertain uncharted waters.

This chapter contains interviews with President Pedro Pablo Kuczynski Godard; Ricardo Luna Mendoza, Minister of Foreign Affairs; Steven Ciobo, MP and Minister for Trade, Tourism and Investment, Australia; Mauricio Macri, President of Argentina; and Walker San Miguel, Secretary-General, Andean Community.

Articles from this Chapter

Overview

Fresh approach: The state aims to improve social services and revive the economy
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Once known as a country scarred by economic and social upheaval, Peru has now experienced nearly two decades of economic growth alongside the continued establishment of democratic principles – increasingly so since the turn of the millennium. Buoyed by high commodity prices, the mineral-rich country grew at an average annual rate of 6.2% in the 10 years to 2014, cementing its status as one of the fastest growing economies in Latin America. Rapid growth further enabled Peru to make significant…

Analysis

After El Niño: The country reels from another coastal weather phenomenon, and focuses efforts on planning for reconstruction
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The phenomenon known as El Niño – heavy coastal flooding resulting from the warming of the Pacific ocean, which generates evaporation and rains further favoured by the absence of winds – dramatically damaged the Peruvian west coast in early 2017, leaving the country in a state of permanent emergency. The events are making their mark on the political, social and economic agendas for 2017 and the coming years. This has been the third detrimental coastal phenomenon in the history of Peru, and…

Viewpoint

A noble goal: President Pedro Pablo Kuczynski Godard, on leadership through social justice
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Viewpoint: President Pedro Pablo Kuczynski Godard I seek a social revolution for my country. I want Peru to become modern, equitable and independent within four years. This means that increasing the income of the poor must solve inequalities between the rich and the poor. This can be achieved by improving access to essential services that are currently insufficient or non-existent – and therefore expensive for the most underprivileged – by closing gaps of access to health care and social security,…

Interview

Local interest: Ricardo Luna Mendoza, Minister of Foreign Affairs, on the country’s role in the region and development goals
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Interview: Ricardo Luna Mendoza How would you characterise Peru’s economic and political role within the region? RICARDO LUNA MENDOZA: Peru is one of the world’s most dynamic and stable emerging economies. Over the last 16 years it has experienced average annual GDP growth rates of more than 5%. Such growth – together with a strong commitment to democracy, the rule of law, political and legal stability, and social inclusion – has allowed the country to move towards its development goals. Since the 1960s Peru has actively participated in different integration processes in Latin America as a complementary strategy to improving its population’s…

Overview

From the top: An introduction to the country’s history and culture
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Ancient Peru was the cradle of the Incan empire, which flourished between 1400 and 1533 CE. The empire’s religious and administrative centre, Cuzco, is known today for being home to the world-renowned Machu Picchu. One of the new seven wonders of the world, the site attracts thousands of visitors each year. The arrival of Spanish conquistadors in 1532 marked the end of the ancient empire and the beginning of nearly three centuries of Spanish colonial rule, which ended with Peru’s proclamation…

Viewpoint

A beneficial alliance: Steven Ciobo, MP and Minister for Trade, Tourism and Investment of Australia, on friendship and partnership
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Viewpoint: Steven Ciobo Peru’s economic transformation over the past two decades, together with its strong economic growth and open trade policies, have been remarkable and have been noticed in Australia. Australia, a dynamic, modern and reliable partner, is keen to be a key partner for Peru across a diverse range of sectors including mining, water, energy, education, agribusiness, tourism, sports and culture. Mining is the backbone of the commercial relationship between both nations, with the…

Interview

Collective approach: Mauricio Macri, President of Argentina, on economic reforms in Argentina and Latin American integration
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Interview: Mauricio Macri To what extent will new economic reforms bolster foreign direct investment (FDI) in Argentina? MAURICIO MACRI: Our main objective is to completely eradicate poverty. The state must help those in the greatest need and the only sustainable way to do this is through job creation. We must generate trust so we can attract local and international investment, from both large and small companies, but also from the government – mainly in the infrastructure sector. In this respect,…

Analysis

A work in progress: Decentralisation efforts are under way and gaining momentum
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Following in the wake of the Alberto Kenya Fujimori presidency – which ran from 1990 to 2000 and was characterised by strong centralism – the Peruvian Congress was, for the first time, composed of representatives with previous political experience in regional institutions throughout the country. In this context, the Organic Law for Regional Governments established the geopolitical structure of the country in 2002, dividing it into 25 regional governments, 195 provincial municipalities…

Interview

Forming connections: Walker San Miguel, Secretary-General, Andean Community (Comunidad Andina, CAN), on increasing regional integration
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Interview: Walker San Miguel What are the necessary steps towards achieving greater integration among Andean states? WALKER SAN MIGUEL: In order to achieve greater integration among Andean countries, CAN takes actions that enable the development of member states through specific goals that improve the quality of life of their inhabitants and seek to merge different points of view. Further Andean integration will require a consolidation of the process of reforming the institution and a more efficient and active general-secretary’s office. Hence the need for the CAN to help its member states take better and more efficient advantage of all the…