The International Monetary Fund (IMF) regards the global scenario is favorable for Peru, with growing exports driven by increasing mineral prices, Economy and Finance Minister Alfredo Thorne affirmed on Friday.
"IMF is more positive than us when it comes to the international environment. They see that exports are growing faster and our foreign accounts are doing well, with a current account deficit lower than 3%," the government official said.
"And they expect mineral prices to continue to rise," he added.
Likewise, Thorne referred to the three factors that led the financial institution to revise its global growth forecast (currently at 3.5%).
"First is the United States, which has revised its estimate upwards; second is China, which also revised [its projection] upwards; and third Japan, which was stagnated and has revised its growth forecast upwards," he explained.
Government reforms
On the other hand, Thorne noted IMF, World Bank Group (WBG) and Inter-American Development Bank (IDB) agree with "the responsible economic reforms promoted by President Pedro Pablo Kuczynski's administration."
In this respect, he highlighted the three institutions agree with the Peruvian Government's tax program.
For instance, IMF affirmed that "only by reducing exemptions —and upgrading the National Customs and Tax Administration (Sunat)— can we increase our [tax] collection in a significant manner."
"We haven't just pulled these reforms out of a hat, they are reforms we have agreed upon with a number of countries and international organizations," he pointed out.
The Finance head currently takes part in the 2017 World Bank Group (WBG)–International Monetary Fund (IMF) Spring Meetings, held in the U.S. capital.
This morning, he participated in "The Future of Hemispheric Economic & Trade Integration" forum, organized by the U.S. Chamber of Commerce.
(END) CNA/JJN/DHT/MVB