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WorldAugust 1 2013

Peru's finance minister avoids complacency trap

The finance minister of Peru has every reason to be satisfied given the country's continued economic growth. However, as he tells The Banker, a new reform package aimed at beefing up its capital markets and making the country more business-friendly are designed to ensure that this growth is built to last.
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Peru's finance minister avoids complacency trap

Peru's economy has been growing at a consistently impressive pace over the past few years, and this growth shows no immediate signs of abating, with a projected gross domestic product (GDP) rise of 6.3% for 2013. This compares favourably with some of Latin America's larger markets, such as Chile (5.5%), Mexico (4%) and Brazil (3%). However, no country can rest on its laurels, and this is a fact not lost on Peru's finance minister, Luis Castilla.

Speaking to The Banker during the London stop of a European roadshow, Mr Castilla is keen to discuss the progress being made with regards to the government's comprehensive reform package, which it is hoped will reduce bureaucracy and bring about improvements in the country's labour market and capital markets. The government estimates that the whole restructuring package will free up an extra $15bn-worth of investment over the coming 12 months.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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