World Bank affirms Peru’s economy growing at ‘unprecedented speed’

Peru’s growing mining industry has spurred economic growth during the last 8 years. Above: Yanacocha gold mine, in Cajamarca, Peru.

(LIP-jl) — A representative from the World Bank-Peru declared yesterday that Peru is growing at unprecedented speeds, meaning that it is becoming an extremely attractive country for foreign investment.

“Peru’s economy is growing at speeds without precedents for six years, and most importantly, it is doing so on a solid foundation," stated Marcelo Guigale after indicating that Peru’s “public and external accounts are very healthy.”

In addition, Guigale indicated to the press the World Bank believes the experienced growth in the Peruvian economy during the past 8 years will continue in 2008.

The Wold Bank representative commented that when he met with Peru’s Minister of Economy, Luis Carranza, in New York three weeks ago, the Minister was excited to inform him that world-wide investors had a sense of urgency to visit the country.

“This is our message: We want to do much more. Everybody is realizing that Peru is a country with tremendous opportunity, something which is very good for all Peruvians, because that will help create more jobs," added Guilgale while attending the inauguration ceremony of the first environmental project developed in Peru .

The World Bank reiterated its support to assist Peru on issues such as decentralization, fiscal consolidation, human development, health care, education, and social development.