Tuesday, November 06, 2007

Peru - the next rising star in Latin America

My friend Andres Oppenheimer, who writes 'oppenheimer report" in Miami Herald has concluded that Peru is the emerging new star in Latin America. He has come to this conclusion, based this on his interview with a World Bank economist and his own analysis. Following are points he has cited:

• Peru's economy has been growing at about 6 percent a year for the past six years, a longer period of steady growth than most countries in the region. The United Nations Economic Commission for Latin America is projecting a 7.3 percent growth for 2007, and a 6 percent increase for 2008.
• Poverty has fallen from 54 percent of the population in 2001 to about 44 percent, according to official figures.
• Inflation is at about 2.8 percent, one of the lowest rates in the region.
• Exports have risen at an average annual rate of 24 percent since 2001, including an 18 percent annual rise in nontraditional exports, mostly agricultural goods and textiles.
• Foreign direct investment has soared from $810 million in 2000 to $3.5 billion last year.

His write up in

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