Peru will have the 3rd highest economic growth rate in 2007

IFF: Peru’s economy will have 3rd largest growth in Latin America during 2007.

(LIP-jl) (Peru 21) — According to the Institute of International Finance (IFF), the world’s largest association of banking institutions, Peru will experience the third highest rate of economic growth in Latin America in 2007.

As far as expansion goes, the IFF reported that Peru will increase by 5.5%, a slight decrease from 2006’s expansion rate of 5.9%. According to the IFF, the small decline is due to the moderation of exportations, internal demand, and private investments.

Despite the small drop in expansion, Peru will register its fifth consecutive year of economic growth.

Charles Dallara, General Manager of the IFF, informed that Brazil, Mexico, Colombia, and Peru played major roles in the regions’ economical increase during 2006.

However, this year the IFF believes the countries will have a difficult time controlling inflation rates.

According to the list, Argentina will experience the greatest economical growth in Latin America with an increase of 7.2%, while Venezuela (7%), Peru (5.5%), Colombia (5.4%), Chile (5.0%), Brazil (3.8%), and Mexico (3.5%) round out the list.