Growth Forecasts Optimistic

Following the IMF's forecast for Peru's real GDP growth to reach 7% this year, Nicolás Eyzaguirre, director of the organisation's Western Hemisphere Department, has said that the country is expected to be the leading contributor to Latin America's growth for at least the next five years. We believe that this forecast does not sufficiently account for the impact of a double-dip downturn in China on Peru's export-driven economy this year and next, and are holding to our more moderate projection for 5.0% real GDP growth this year, followed by 3.9% growth in 2011.

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