In the postwar period Peru developed under the import substitution model. In the 1970's a significant some of money was spent on imported weaponry which led to debt payment problems further on. Peru suffered a sharp contraction in 1982, coinciding with the Latin American debt crisis, and in 1985 Alan Garcia was elected President. Garcia instituted drastic measures to reform the economy, including limiting external debt payments to 10% of export earnings, which meant that technically Peru was in default.

His term ended in 1990 with the economy in severe contraction and suffering hyperinflation. Peru had become, in effect, a failed state. Garcia was succeeded by Fujimori who reverted to more orthodox economic management.  He managed to get the State deficit under control and brought inflation down to single digits. Growth during his first five year term was patchy but was much better during his second term.

Peru, since the turn of the Millennium, is a much better run country than it was in the past. Growth has been steady, exports have expanded considerably and diversified and economic marginalisation has been reduced. In addition, the rebel Shining Path movement has ceased to be a threat.

Contents

Introduction

The Modern Period

The Current Era

The Modern State

Economics from the Ground Up

Political Systems

Trade Theory

The EU as a Model of Integration

Industrialisation

Synopsis

Data                                   

            World GDP                                           2018

            World GDP PPP                                   2018

            GDP per capita ppp                           2018

            Exports    &   Imports                        2018

            Container Traffic                  2010 & 2018

            Oil Production                                    2018

            Migrant Remittances                       2018

            Tourism Statistics                             2017

            Tourism Americas                             2017              

Latin America         

Background

The US and Latin America

Economy

The EU and Latin America

Mercosur

World Exports                                   2000-2018

Peru                                 

            Introduction

            Political System - Post 1945

            History of Governments in Peru

            1970’s & 1980’s

            Fujimori

            The Peruvian Economy Today

            Current Issues

            Charts & Chart Commentary

Sources

70 pages