IMF praises Peru's economic policies

13:06, May 28, 2010      

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The International Monetary Fund (IMF) said Thursday that Peru is a stellar example of how to enforce the right economic policies since its GDP this year is expected to grow 5 to 7 percent.

Managing Director of the IMF Dominique Strauss-Khan said he had carefully examined all of Peru's economic figures and policies and did not find anything that needed improvement.

Peru's economic policies enforced in recent years are right, and that is the reason why the country survived the last international financial crisis without suffering great consequences, Strauss-Khan said.

"Peru's international reserves (of more than 35 billion U.S. dollars) are extraordinary, and we estimate an economic growth of 5 percent to 7 percent this year; it is a high and very important figure," Strauss-Khan told the press after a meeting with Peruvian President Alan Garcia.

"For the Latin American countries and many emerging countries in the world, the main problems now are how to manage the large flows of capitals that will arrive in these countries," Strauss-Khan said.

Investors prefer to invest in emerging economies like Peru, which is positive. However, that income of capitals could generate the risk of producing bubbles or overheating the economy of those countries, he warned.

Strauss-Khan is here to attend the Third Meeting Latin American and Caribbean Treasury Ministers to be held on Friday.



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