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Economic Survey of Latin America and the Caribbean 2004-2005

image of Economic Survey of Latin America and the Caribbean 2004-2005

This year's edition of the Economic survey of Latin America and the Caribbean,the fifty-seventh in this series, is divided into two parts. The first analyses the main features of the regional economy, while the second examines the situation in the individual countries of Latin America and the Caribbean. The full statistical appendix is published in electronic format for ease of data processing.

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Peru

In 2004 Peru's economy outstripped early expectations to post a growth rate of 4.8%, thanks to export buoyancy and an upturn in private investment. Favourable external conditions and the macroeconomic rationalization begun in previous years were also contributing factors. In this context, Peru's trade balance closed with a hefty US$ 1.95 billion surplus, while the balance-of-payments current-account deficit dropped to just US$10 million. International reserves climbed by over US$ 2.4 billion, to stand at US$ 12.6 billion, which sufficed to cover the totality of dollar liabilities in the banking system, in addition to short-term external debt.

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