Overview
- At a World Economic Forum panel in Davos on Jan. 22, BCR president Julio Velarde said Peru’s growth “has not been so bad” despite years of political turnover.
- Velarde cited nine presidents in the recent period with the exchange rate barely moving and bond yields holding steady as evidence of macroeconomic resilience.
- He credited central bank independence and stronger institutions for curbing the macro instability that hobbled Latin America in past decades.
- Regional voices, including Marsh’s Gerardo Herrera, BID Invest’s James Scriven and economist Mónica Muñoz-Nájar, cautioned that stability has not translated into robust growth as uncertainty continues to deter long-term investment.
- Panelists highlighted priorities such as better public services, higher-quality education and productivity-focused reforms, noting demographic pressures and technological shifts heighten the urgency.