IMF: Peru to be most dynamic economy in Latin America in 2008 and 2009

ANDINA

October, 22

The Peruvian economy will be the most dynamic in Latin America in 2008 and 2009, despite the world financial crisis, the deputy director of the IMF's Research Department, David Robinson, reported Wednesday.

“In 2008 and 2009, Peru’s economy will be the most dynamic, with a GDP growth of 9.2 and seven percent, respectively”, he said.

Robinson ruled out that Latin America becomes scenario of a recession as it is happening in the United States.He indicated that Latin American and the Caribbean will deal better with world shocks, showing the progress of several countries to improve their macroeconomic situation, among them Peru.

The IMF’s representative said that governments must act now in a specific line to maintain the liquidity in the national market, preserve the financial stability, follow a monetary policy that combines growth and inflation, and have a fiscal policy that balances social needs and fiscal order.

In regard to the high inflation showed in the region in recent months, Robinson said it is being left in second place and it is less concerning compared to some months ago.