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May 31, 2011 14:33:28

2011 Peru elections: What are the best case scenarios for investors?

Growth in the Lima Stock Exchange over the past year. The dip seen was on Monday, April 11, after Humala and Fujimori passed to the second round of elections. (Image taken from

By Kelly Giem

Unlike most developed countries, Peru’s 2011 election represents a crossroads for the future of Peru’s investment potential and in turn its future economy. At the moment the world knows more about the worst case scenarios and pasts with troubling histories for both candidates than they do the potentials that both parties hold.

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January 12, 2011 15:58:21

Peru 2011 elections: The candidates and their economic platforms

From the six mostly centrist leaders front-runners in Peru's 2011 elections, almost all agree that continued economic growth must be accompanied by increased social inclusion. (Image by

By Ricardo Serra Fuertes
Published January 3, El Comercio

The new year begins and with it the campaigns for Peru’s next president. The beginning of January has been marked by insults and venting via Twitter by the candidates and their staff — but the majority of the political groups also have economic proposals to share.

Alejandro Toledo, Luis Castañeda, Keiko Fujimori, Ollanta Humala, Pedro Pablo Kuczynski and the ruling party’s candidate Mercedes Aráoz are the candidates leading the polls. One aspect they agree upon is that Peru needs to continue economic growth, but put an emphasis on increasing social inclusion. Another common goal is to improve tax collection in order to have a greater budget.

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January 4, 2011 19:33:38

Peru's six hot industries of 2010

After four revision of Peru's growth estimates for 2010 (going from the 5% January prediction to 8.5% by December) it seems we agree that this was an exceptional year. Here are the six sectors that performed best.

Published in El Comercio
Adapted from Spanish by Nathan Paluck

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December 21, 2010 17:47:35

Peru's Hernando de Soto gives grave warnings about world economy

Hernando de Soto. (Photo by Lucero Castillo/Peru21 archives)

The world-renowned Peruvian economist Hernando de Soto affirms that there is a lack of truth at the bottom of the crisis, that the exit will be hard and that sooner or later it will hit.

By L. Davelouis and A. Townsend K., El Comercio
Adapted from Spanish by Jane McCrory

Hernando de Soto isn’t loved by all the world, as he is accustomed to saying what he thinks to whoever is in front of him, whether it be Bill Clinton or Muammar al-Gadafi. De Soto affirms that, at the moment, neither Europe nor the US has the political will to make the decision to tell the truth about the financial system and re-establish the system of accountability that would bring the crisis to a close. He also maintains that since the G-20 summit the national parliament is only worsening the problem, pushing it forward.

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November 15, 2010 10:20:34

Peru needs a unified vision of the future, says Michael Porter

Michael Porter discusses the Peruvian economy at CADE, Peru's conference for business executives.
Michael Porter discusses the Peruvian economy at CADE, Peru's conference for business executives. (Photo: Alberto Orbegoso/Andina)

By Mario Sandoval

URUBAMBA--“Peru needs a strategic vision of the future and this needs to be a unified vision,” said Michael Porter on Nov. 12, speaking at the 2010 Annual Conference of Business Executives (CADE for its acronym in Spanish), which took place in Urubamba city in Cusco’s Sacred Valley. “Peru needs an ambitious but realistic plan forward and also needs to secure consensus around that plan,” he reiterated.

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September 15, 2010 12:26:18

VIP neighborhoods flourish in outskirts of Peru's capital

VIP neighborhoods flourish in outskirts of Peru's capital
Villa Club is an example of high end housing in the outskirts of Peru's capital. 

First inhabitated after land invasions and considered a poor "cono" of Peru's capital, the north end of Lima is seeing increased prosperity and expensive real estate projects. Welcome to the sophisticated neighborhoods of Lima Norte.

By George Simons
Adapted from Spanish by Diana Schwalb

“They've long ceased being conos,” replied the taxi driver to whom solicited a ride to the northern section of Lima. “It is now called Lima Norte,” he corrected, after having, with visible pride, boasted about living in the residential area of Los Olivos.

The main districts of Lima Norte – what used to be strictly marginalized outskirts, or "conos," of Lima – are now a genuine potential metropolis. The commercial development that they have achieved due to sustained economic growth is no secret. Now accompanying the commerce and increased prosperity is a residential upgrade and the appearance of "refined neighborhoods" that have little to envy of Lima's middle and upper class neighborhoods.

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September 7, 2010 18:11:59

How Peru's economy has changed the past 25 years


Semana Económica, the weekly magazine covering Peru's stock market, business climate and economic trends, celebrated its 25th anniversary on August 26, 2010. Gonzalo Zegarra Mulanovich, managing director of SE, pictured above, gave a speech at the anniversary celebration highlighting how much has changed over the past 25 years in Peru's economy. Here is an excerpt of his speech.

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June 1, 2010 12:10:34

Are you investing in a housing bubble in Lima, Peru?

"Don't settle with looking. Buy," reads a sign in Lima. Is the capital city's housing market overheating? (Photo: Isabel Guerra)

By George Simons
Adapted from Spanish by Diana Schwalb

Since 2005 land prices in Lima, Peru have rapidly increased. For example, in the area around Golf Los Incas in the district of Surco, prices rose more than 130 percent. In the Haras in La Molina, the increase has been nearly 105 percent, in La Estancia, 120 percent, in La Pradera, the Payet park, the Pio XII park and the Santa Margarita Park, they increased by over 150 percent. On seaside portions in the districts of Miraflores, Barranco and Chorrillos, prices have risen by almost 200 percent — specifically along the malecones Reserva, 28 de Julio, De Souza and Berckemeyer.

Despite concerns of a housing bubble, real estate specialists and developers say that in the coming years, the housing market in Lima — and the prices — will continue growing.

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May 10, 2010 11:58:06

Peru Central Bank Unexpectedly Raises Lending Rate to 1.5 percent

By John Quigley

Peru’s central bank unexpectedly raised its benchmark lending rate by a quarter percentage point last night amid forecasts the country’s economy may expand faster than those of its Latin American neighbors.

The seven-member board lifted its reference rate to 1.50 percent, from 1.25 percent, surprising all 12 economists surveyed by Bloomberg. They predicted the rate would stay at a record low for a ninth month as inflation remains below the bank’s target.

“The rate rise will not be a huge shock for the market as an increase had been expected sometime in the next few months,” said Guillermo Arbe, Scotiabank Peru’s chief analyst, in a phone interview from Lima. “The bank will watch the market’s reaction before hiking again.”

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May 6, 2010 12:18:19

Peru May Keep Rate at Record Low 0.5 percent for Ninth Month to Bolster Recovery

By John Quigley

Peru’s central bank will probably keep its benchmark lending rate at a record low for a ninth month as policy makers have leeway to bolster the economy’s recovery with inflation remaining below their target.
Julio Velarde, president of the seven-member board of Peru's central bank.

 The seven-member board, led by bank President Julio Velarde, will keep its reference rate at 1.25 percent, according to all 12 economists surveyed by Bloomberg. The bank is scheduled to announce its decision after 6 p.m. New York time.

Last year’s seven interest rate cuts, government stimulus and a rebounding global economy have helped South America’s sixth-biggest economy emerge from its deepest contraction in eight years. At the same time, inflation is under control as growth isn’t likely to fuel consumer demand until the second half of 2010, said Bertrand Delgado, a senior Latin America economist at RGE Monitor, a research company in New York.

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