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International Monetary Fund. Western Hemisphere Dept.
After being hit very hard by the pandemic in 2020, both in terms of health and economic outcomes, Peru experienced an equally strong economic rebound in 2021. A new administration was inaugurated in July 2021 with a program focused on reducing inequality and improving social conditions, but limited support from Congress and lack of cohesion heightened political uncertainty. While real GDP surpassed its pre-pandemic level by 2021, labor force participation and total employment have not fully recovered yet. Poverty increased significantly in 2020 and, despite some improvement in 2021, remains higher than in 2019. On May 27, 2021, the IMF Executive Board completed the mid-term review of Peru’s continued qualification under the Flexible Credit Line (FCL) arrangement.
International Monetary Fund. Western Hemisphere Dept.

(government owned and private banks, financial companies, savings and loan associations and financial cooperatives). Data on other financial corporations (OFCs) have been recently reported and are under review. OFCs comprise insurance companies, pension funds, mutual funds, and other financial intermediaries and auxiliaries. The reported monetary statistics are broadly in line with the methodology of the Monetary and Financial Statistics Manual ( MFSM ). Financial sector surveillance : The BCRP report on quarterly basis all twelve core financial soundness indicators

International Monetary Fund. Western Hemisphere Dept.

private banks, financial companies, savings and loan associations and financial cooperatives). Data on other financial corporations (OFCs) have been recently reported and are under review. OFCs comprise insurance companies, pension funds, mutual funds, and other financial intermediaries and auxiliaries. The reported monetary statistics are broadly in line with the methodology of the Monetary and Financial Statistics Manual (MFSM) . Financial sector surveillance : The BCRP report on quarterly basis all twelve core financial soundness indicators (FSIs) and nine (out of

corporations (government owned and private banks, financial companies, savings and loan associations and financial cooperatives). Data on other financial corporations (OFCs) have been recently reported and are under review. OFCs comprise insurance companies, pension funds, mutual funds, and other financial intermediaries and auxiliaries. The reported monetary statistics are broadly in line with the methodology of the Monetary and Financial Statistics Manual (MFSM). Financial sector surveillance : The BCRP report on quarterly basis all twelve core financial soundness

International Monetary Fund. Western Hemisphere Dept.

securities. At the request of the authorities, two missions visited the country in January 2007 and September 2008 to assist with the introduction of the standardized report forms (SRFs) for the central bank and other depository corporations (ODCs) for reporting monetary data to the IMF. The BCRP reported test data for the central bank in the SRF in July 2013 and it is expected that test data in the SRF for the ODCs will be submitted to STA by December 2013. Financial soundness indicators. Peru started reporting twelve core and nine encouraged financial soundness

International Monetary Fund

underlying assumptions are discussed in the MMM document. By law, the MEF must submit the draft MMM to the BCRP for a technical opinion on the macroeconomic framework and on the compatibility of fiscal policy with forecasts for the balance of payments and net international reserves, and with monetary policy. 58 Although the PPSP is consistent with fiscal targets in the MMM, the budget documentation does not explicitly indicate how that consistency is achieved. The MMM is approved by the Council of Ministers and published, along with the BCRP report, in full in the

Ms. Stephanie C Medina Cas

accountability and transparency is high in all three countries. All publish quarterly monetary or inflation reports, financial stability reports, annual audited financial statements, and detailed monetary policy decisions. The governor of the BCC reports to congress four times a year, once to the full congress and three times to the finance committee; the governor of the BCRP reports to congress once a year. The BCC is particularly transparent regarding board policy decisions—it publishes monetary decisions, the minutes of its policy meetings, and voting patterns shortly after

Mr. Alejandro Carrion-Menendez and Ms. Florencia Frantischek
Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy frameworks of CADR is key to improving the effectiveness of monetary policy. The paper reviews the literature on the reforms needed for strengthening the monetary policy frameworks, and examines the experiences of IT countries, Chile, Peru, and Uruguay to help distill lessons for CADR. It also constructs an index to measure the relative strength of the monetary policy framework of CADR countries.
International Monetary Fund

monitor labor market developments through four indicators: open unemployment, underemployment, employment, and remunerations. The quality of these indicators has improved significantly over the last two years. However, long delays in publishing the data is still a major shortcoming. Government finance Central government accounts are prepared on a commitment basis and adjusted to a cash basis. In 2000 the BCRP reported data on the operations of the central government, state governments, and local governments for 1999 for publication in the Government Finance

International Monetary Fund
The public sector in Peru is clearly distinguished from the rest of the economy, but the existence of various legal and statistical definitions of the government makes it difficult to demarcate it clearly from the rest of the public sector. The recent constitutional reform has strengthened the decentralization process, but key fiscal aspects have yet to be defined. The current distribution of fiscal responsibilities between the central government and local governments is legally defined, but the allocation of expenditure responsibilities and intergovernmental transfers need further clarification.