Peru: in need of fresh stimulus

Driven by the boom in its mining sector and its rigorous macroeconomic policies, since the early 2000s Peru has experienced a period of spectacular development, described as the “Peruvian Miracle”. Nominal GDP in US dollar terms has increased almost fivefold over the last 20 years and the various human development and poverty indicators have made significant progress. This cycle is especially remarkable as it follows two decades, from 1980 to 2000, marked by civil war and economic crisis.