With the lockdown restrictions lifted in the second semester, Peru economic activity is expected to gradually recover reaching a 6.5% expansion in 2021, International Monetary Fund (IMF) Western Hemisphere Director Alejandro Werner reported on Friday.
In Peru, the growth projection for 2020 has been revised down markedly to -14%, as weaker external demand and a longer-than-expected lockdown period have so far more than offset the governments significant economic support and translated into large employment losses, Werner wrote.
According to the IMF officer, downside risks remain prominent, however, and are particularly linked to domestic and global challenges in bringing the COVID-19 pandemic under control.
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Date 26 June 2020
