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Country Insights

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Gripped by political uncertainty
PERU - Report 07 Aug 2019
We project 2019 growth at just 2.6%, but deterioration of the political situation, and the perception that an anti-system candidate could become the next president, could further damage growth prospects. In addition, international turbulence could affect emerging countries, including Peru. On the...

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Vizcarra finishes his National Day speech with a bombshell
PERU - In Brief 28 Jul 2019
A few hours ago, president Martin Vizcarra delivered the customary July 28thspeech before Congress where as usual he enumerated his government´s achievements during the last 12 months. However, towards the end of his presentation the President explained that the Executive Branch proposals for a p...

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Another game of chicken
PERU - Report 18 Jun 2019
Facing dwindling approval ratings, the Vizcarra government resorted to its usual ploy: it confronted the unpopular Congress, though now with a credible excuse: Congress had been dragging its feet over approving the government’s proposed political reform. The Executive branch sent Congress 12 draf...

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Public applauds crackdown on the political class
PERU - Report 17 May 2019
All four Peruvian ex-presidents since 2001, a Lima ex-mayor and several regional governors are being investigated in relation to contributions from Brazilian construction firms. Prosecutors have secured information from such firms under arrangements providing immunity to their officials in return...

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Navigating amid icebergs
PERU - Forecast 11 Apr 2019
We expect more modest growth in Q1, after a robust Q4 2018. Nor does Q2 look very promising, especially should the blockade of the road impeding Las Bambas mega copper mine operations persist. Las Bambas represents 20% of Peruvian copper production, and its paralysis could affect 1% of monthly GD...

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Ex-president Pedro Pablo Kuczynski jailed
PERU - In Brief 10 Apr 2019
Today a judge ordered the preliminary detention of the ex-president for a 10-day period after a prosecutor began investigating him on money laundering charges related to the financial services that his Miami based firm performed in two infrastructure projects (the Interoceanic Highway and the Olm...

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Vizcarra's new cabinet
PERU - In Brief 11 Mar 2019
A new cabinet was sworn in today after Premier Villanueva’s resignation.The new Premier is Salvador del Solar, who was Minister of Culture during Pedro Pablo Kuczynski’s tenure. Mr del Solar is an actor and film director, and is also a lawyer who studied international relations in the US. Seven n...

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Prime Minister Cesar Villanueva Resigns
PERU - In Brief 08 Mar 2019
President Martin Vizcarra accepted the resignation of the president of the council of ministers (also referred to as Premier or Prime Minister) Cesar Villanueva this afternoon. It is rumored that his resignation was prompted by Minister of Finance Carlos Oliva's disagreement on the way that a tru...

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A president under pressure
PERU - Report 01 Mar 2019
The government has started to feel the brunt of increased demands for action in several public policy areas, intensified by an abnormal El Niño-driven rainy season that has demanded the special attention of most of the Cabinet. The idea that President Martin Vizcarra has made the fight against co...

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Good growth momentum despite political chaos
PERU - Report 22 Jan 2019
Since winning ample public support in a fall showdown over judicial and political reform, President Martín Vizcarra has successfully positioned himself as Peru’s anti-corruption leader. The leaders of both major opposition parties, Fuerza Popular (FP) and APRA, are now under high-profile investig...

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A major victory for the President
PERU - Report 10 Dec 2018
Yesterday´s referendum President Martín Vizcarra promoted over four constitutional reforms has produced a resounding boost to his power. Voters did just what he asked, by a 4-to-1 margin: they supported the first three proposals and voted down the fourth. Together with the question dealing with j...

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Strong growth prospects, but politics could hamper business confidence
PERU - Forecast 12 Nov 2018
Strong recovery in H1 was mainly due to a favorable base effect, after the H1 2017 slowdown caused by the El Niño disasters. Though we expect growth of just 2.5% in Q3, growth should speed up in Q4, taking into account the start of the fishing season, and strong public investment. Under these con...

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Vizcarra gets his way
PERU - Report 11 Oct 2018
After gleaning that Congress was dragging its feet on his four proposed constitutional amendments, President Vizcarra addressed the nation on TV and accused the congressional majority of trying to modify them. The president implied that if his call for a referendum was delayed or denied, he could...

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A new battle cry
PERU - Report 14 Sep 2018
The short-lived calm after Martín Vizcarra’s assumption of the presidency was shattered by the president’s bold July 28th Independence Day speech, in which he proposed controversial reforms to address the major ongoing judicial scandal. The president’s proposals include change in the political re...

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Taking his case to the public
PERU - Report 01 Aug 2018
Massive judicial corruption unveiled via a barrage of audio tapes leaked to the press has given President Martín Vizcarra an opportunity to press for political reforms. The president has proposed an overhaul of the judicial system, a ban on reelection of members of Congress, and reinstatement of ...