BriefingThe Americas

In Need of Investment, Peru Rolls Back Environmental Standards

A backhoe used for mining stands idle in a crater after it was destroyed by the government in April in Huepetuhe in the Madre de Dios region of Peru, May 21, 2014 (AP photo by Rodrigo Abd).
A backhoe used for mining stands idle in a crater after it was destroyed by the government in April in Huepetuhe in the Madre de Dios region of Peru, May 21, 2014 (AP photo by Rodrigo Abd).
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After a run of good years, Peru’s government faces mounting economic challenges. Bolstered by booming commodities demand in China and other emerging markets, the Andean nation’s gross domestic product expanded at an annual rate of almost $15 billion over the past decade. Inflows of foreign direct investment nearly doubled between 2009 and 2012. But the economy has cooled since, with annual growth sliding from 8.5 percent in 2010 to 5.8 percent last year. While Peru continues to lead its South American peers in terms of economic expansion, the country’s Central Bank significantly cut its growth forecast from 5.5 percent in […]

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