Lima Stock Exchange
Since the 1990s, the Peruvian economy has undergone a number of reforms. Parts of the informal sector have been legalized and large sections of the mining, electricity and telecommunications industries have been privatised. Foreign investment has also led to positive developments, good growth and the stabilization of inflation. Unfortunately the country’s economy went into a bit of a decline between 1998 and 2000 with El Niño strongly impacting agriculture, instability in Brazilian markets and a massive financial crises in Asia negatively affecting Peru’s economy. Fortunately recent years have seen a bit of a recovery. Peru has the distinction of having the largest fish market in South America yet despite this and the country’s slow but determined economic growth, poverty and unemployment continue to plague the country.
Currently the Peruvian Government is actively trying to attract both foreign and domestic investment. Unfortunately delayed privatization, political uncertainty, terrorism, hyperinflation and government intervention has greatly hindered foreign investment in Peru in the past but steps have been taken to bring these negative aspects under control. The government has lowered trade barriers and opened the economy to foreign investment in numerous other ways that has resulted in Peru having one of the most open investment programs in the world. Much of this investment stems from Spain, the US, the UK, Panama and the Netherlands, with the Bolsa de Valores de Lima playing an important role in the economy. Currently the economic outlook for the country’s economy is positive despite the fact that the economic situation in the country and the political climate are not as good as they should be. In the future foreign investors are expected to invest in mining, petroleum, natural gas, financial institutions, tourism, power industries and agriculture.