Peru climbs in ranking of free economies

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Peru climbed to the 24th spot on the 2012 “Economic Freedom of the World” report, up from 33rd last year.

The report, published by the Cato Institute, ranked Hong Kong as the country with the freest economy, followed by Singapore, New Zealand, and Switzerland.

According to the Cato Institute, the report aims to “measure the consistency of the institutions and policies of various countries with voluntary exchange and the other dimensions of economic freedom.”

The institute said it had ranked 144 nations using 2010 data, the most recent year for which relevant information is available.

This year’s report placed Peru second on the list, among South American countries, only behind Chile.

Peru scored 7.61 points out of 10, above the global average of 6.83 points, Peru21 reported.

Peru climbed to the 24th spot on the 2012 “Economic Freedom of the World” report, up from 33rd last year.

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