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
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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Business and Economics , 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
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.
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