Peru; First Review Under the Stand-By Arrangement and Requests for Modification of Performance Criterion and Waiver for Nonobservance of Performance Criterion: 2004 Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru

The staff report for the First Review Under the Stand-By Arrangement and Requests for Waiver of Performance Criterion and Waiver for Nonobservance of Performance Criterion highlights Peruâ€™s policy discussions and staff appraisal. A draft law was prepared with a view to establishing sanctions for noncompliance with the lawâ€™s fiscal deficit target. Monetary policy continues to be managed prudently within the inflation-targeting framework. The central bank expects dollarization to gradually decline as a result of sound economic policies and strong bank supervision.

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Year of publication:	2007-03-07
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Performance criteria waivers \| Stand-by arrangement reviews \| Economic growth \| Economic reforms \| Economic indicators \| Announcements \| public debt \| central bank \| external debt \| current account \| debt service \| reserve bank \| public sector debt \| domestic currency \| balance of payments \| fiscal policy \| current account balance \| fiscal operations \| short-term debt \| debt sustainability \| current account deficit \| debt dynamics \| external debt service \| total external debt \| social expenditure \| repurchases \| debt ratio \| fiscal decentralization \| tax revenue \| debt stock \| fiscal deficit \| long-term loans \| debt relief \| external financing \| government expenditure \| fiscal responsibility \| debt sustainability analysis \| interest expenditure \| fiscal consolidation \| debt ratios \| debt management \| external payments arrears \| external payments \| tax reform \| tax policy \| tax collections \| private debt \| fiscal targets \| fiscal management \| tax base \| national budget \| excessive volatility \| tax rates \| debt management strategy \| domestic financing \| currency composition \| external borrowing \| long-term debt \| capital expenditure \| fiscal performance \| primary deficit \| external public debt \| fiscal transparency \| prudent fiscal management \| general government expenditure \| public sector management \| public expenditure \| currency risks \| fiscal accounts \| fiscal rules \| fiscal savings \| fiscal target \| fiscal stance \| public external debt \| fiscal objectives \| debt data \| general resources account \| official creditors \| primary fiscal balance \| foreign currency debt \| reserve assets \| external debt data \| fiscal reforms \| government revenue \| fiscal sustainability \| domestic debt \| debt exchange \| central banks \| currency debt \| tax ratio \| fiscal deficit target \| debt-service \| fiscal prudence \| central government expenditure \| external debt sustainability \| current account adjustment \| sovereign debt \| fiscal responsibility law \| public expenditures \| expenditure growth \| public debt management \| budget process \| debt market \| debt statistics \| fiscal losses \| central government expenditures \| domestic public debt \| government spending \| annual budget \| debt servicing \| long-term public debt \| external debt statistics \| debt contract \| private creditors \| tax administration \| government expenditures \| tax compliance \| accumulation of arrears \| central government spending \| fiscal cost \| external debt transactions \| fiscal implications \| fiscal balance \| fiscal accounting \| fiscal assumptions \| tax revenues \| tax bases

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 07/99 6 pages long
Source:	RePEc - Research Papers in Economics

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