Can Copper Prices and Nearshoring Restart Peru’s Economic Dynamism?
Politics has been a drag on this former regional growth star, and hasn’t improved. But global economic conditions have, writes a former finance minister.
LIMA – Many predicted that politics wasn’t going to compromise Peru’s growth performance, until it did. After Peru spent more than a decade as Latin America’s star economic performer, with average per-capita growth of 5% from 2001 to 2013, a political crisis that started in 2016 has resulted in seven presidents over a period lasting just two full-length presidential terms, as growth has stalled. Even harder to understand is the recent turn that Peruvian politics has taken, departing further and further from public opinion and generating a generalized distrust of democracy. With...
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