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International Monetary Fund Reasserts Trust in the Peruvian Economic Growth in Spite of the Global Financial Crisis

John Lipsky, First Deputy Director of the International Monetary Fund, attending the XV APEC Finance Ministers’ Meeting met with the Peruvian Minister of Economy, Luis Miguel Valdivieso and with officials of the Central Bank of Reserves to discuss the global financial crisis, its impact on Peru and also possible contingency plans for the future.

“As representative of the IMF I trust that Peru is ready to face the global financial crisis and it will continue with its sustainable growth within this context. Both, Peru and Chile, have good conditions to face these swings of the international economy” stated the official.

The APEC Finance Ministers’ Meeting started with the opening remarks given by Minister Valdivieso in front of his ministerial pairs and other APEC Financial Senior Officials. Valdivieso mentioned that he has closely worked with Economies of Malaysia and Singapore regarding economic and trade integration between these Economies.
The highest financial representative of Peru acknowledged that this year’s global financial crisis’ dimensions are historic seeing as global markets are being pummeled; but even so, he feels confident that Asia-Pacific region will find joint solutions. “All the possible solutions will be submitted to our Leaders during APEC Leaders’ Week that will be held from November 16 to 23 in Lima. It will be chaired by Dr. Alan García, Peruvian Economy Leader”, he said.

On the other hand, Peruvian Financial Minister stated that the economic situation of the country is steady. “We have reached high economic growth levels, inflation is under control and it is also worth to mention that Peru has joined Chile and Mexico, as one of the countries with a high investment growth rate”.

APEC Ministerial Meeting precedes the Finance Ministers’ Meeting and Central Banks Chiefs of the G-20 that will be held in Brazil on November 7, 2008. Conclusions reached in both meetings will feed the discussions to be held on the third week of November by the 21 Economy Leaders during the Leaders’ Week.

News source: Andina, APEC 2008.org

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