Banco de Centro del Peru: Today we had a very interesting presentation from Renzo Rossini, manager of the Central Bank of Perú, the equivalent of our Federal Reserve Chairman. Mr. Rossini explained the very aggressive changes in fiscal policy that have turned their economy around. In 1990, inflation was near 400 percent. However, during the peak of the global economic crisis of 2008, in spite of three consecutive quarters of negative GDP, the country was able to maintain a annualized average GDP of 1 percent growth! This very quick recovery is just one of the highlights that demonstrates the strengths of Peru’s economic policies.
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