Magazine article Foreign Affairs

Recent Books: Western Hemisphere: Peru: Staying the Course of Economic Success

Magazine article Foreign Affairs

Recent Books: Western Hemisphere: Peru: Staying the Course of Economic Success

Article excerpt

Recent Books: Western Hemisphere: Peru: Staying the Course of Economic Success EDITED BY ALEJANDRO SANTOS AND ALEJANDRO WERNER. International Monetary Fund, 2015, 458 pp.

Ever since recovering from the miserable, debt-laden 1980s, the Peruvian economy has performed remarkably well. From 1993 to 2014, Peru's annual gdp growth averaged over five percent, poverty levels declined by more than half, and the middle class swelled. High global prices for commodities and massive Chinese spending and investment helped, but the International Monetary Fund claims some credit as well. In this comprehensive volume, rich with detailed technical analysis, notable Peruvian economists and imf officials assess the many structural reforms that allowed Peru's economy to become more efficient, stable, and resilient. …

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