STATEMENT BY IMF MANAGING DIRECTOR CHRISTINE LAGARDE AT THE CONCLUSION OF HER VISIT TO PERU / INTERNATIONAL MONETARY FUND

Statement by IMF Managing Director Christine Lagarde at the Conclusion of her Visit to Peru

Press Release No.14/551

December 4, 2014


Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today in Lima:

“I was very pleased to return to Peru as it prepares to host the IMF and World Bank Annual Meetings less than a year from now. I would like to express my great appreciation to President Ollanta Humala and the First Lady, Nadine Heredia, Finance Minister Alonso Segura, Central Bank Governor Julio Velarde and the government authorities for their warm welcome and our productive discussions.

“Peru continues to be one of the most vibrant economies in the world. Economic performance over the past decade has been exceptionally strong—nurtured by positive fundamentals, a sound policy framework, and prudent macroeconomic policies. The economic expansion allowed per capita income to double, and employment to increase substantially. Peru also made good progress on its social agenda as poverty and inequality rates continue to decline.

“Owing mainly to weaker global and regional growth, declines in commodity prices and lower private investment, growth is expected to slow in 2014. However, activity will likely pick up in 2015 thanks to the recently announced monetary and fiscal measures. Looking forward, Peru’s economic prospects and progress in addressing the important social needs hinge on the continued and timely implementation of an ambitious reform agenda to enhance potential growth, with a more socially inclusive strategy.

“I had the pleasure of witnessing some of the programs aimed at promoting greater social and financial inclusion, as well as reducing poverty put together by the central government, local authorities, and civil society organizations, when I visited Ayacucho with the First Lady. There, I experienced firsthand how vital grassroots economy has become and the increasingly important role women play as agents of change. I also had the opportunity to discuss education, sustainability, job creation and gender equality in my meetings with youth entrepreneurs and women leaders.

“I finally had the opportunity to see firsthand the impressive progress that Peru is making in preparing for the Annual Meetings in Lima in October 2015. I am grateful for the Peruvian authorities’ commitment to bringing the Meetings back to Latin America and putting Lima at the heart of global economic policy making. This will also be a tremendous opportunity for Peru to showcase its rich cultural heritage and dynamism.

“Overall, Peru’s future looks promising and I look forward to coming back in October next year. Once more, I would like to thank the Peruvian authorities and the Peruvian people for their gracious hospitality.”

IMF COMMUNICATIONS DEPARTMENT