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Peru: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2010: Issue 099
Language:
English
Publication Date:
23 Apr 2010
DOI:
https://doi.org/10.5089/9781455206674.002
ISBN:
9781455206674
ISSN:
1934-7685
Pages:
74
Keywords:
ISCR; CR; output gap; dollarization; Peru; exchange rate; trend output gap; output gap volatility; calculation of the trend output and output gap; trend growth; dollarization process; Capital inflows; Fiscal rules; Fiscal stance; Credit; Global
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This paper assesses the performance of Peru’s alternative fiscal rules in supporting medium-term fiscal policy objectives. Peru has shown steady fiscal surpluses and declining debt vulnerabilities. Subnational government constrains to borrow internationally have been relaxed, which could become a concern in the future. Current debt levels are already low, which may allow the authorities to move quicker toward a structural balance rule, or even propose a small structural deficit, without jeopardizing debt sustainability.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund