Peru pulls back from the brink but path to growth is rocky
Political turmoil is easing as the government attempts to get the economy back on track Peruvian President Dina Boluarte's government is hoping foreign investors will help the country return to steady growth, following a period of political turmoil that has caused uncertainty about the country's future. The country’s biggest fall occurred in December when President Pedro Castillo announced he was closing Congress, seizing extraordinary powers and ruling by decree, an echo of 1992 actions by his predecessor Alberto Fujimori. The turmoil has led to five changes to president in under five years, which have left the economy struggling and creating uncertainty about its future. Mining, a keystay of Peru's economy, is seen as a key economic asset as its position on the Pacific Pacific Ocean and its abundance of copper, gold and silver should position it for further prosperity. The government is now focusing on quelling disorder to propelling the economy forward, with some $53bn of big projects stalled for years due to bureaucratic inertia, complex regulation, and ongoing protests. However, despite this, the country remains a stable climate, with most of its assets remaining in the country awaiting more than half a century.
Published : 2 years ago by Michael Stott in Politics
Like a climber who has taken a tumble, narrowly dodging a ravine, Peru is picking herself up and contemplating two possible futures: a continued ascent towards the peaks, or the risk of another downward slide.
President Dina Boluarte’s government ho... [7233 symbols]
Topics: Peru