PO, WMO, WToO,
WTrO

Diplomatic representation in the US:
chief of mission: Ambassador Ricardo V. LUNA MENDOZA
chancery: 1700 Massachusetts Avenue NW, Washington, DC 20036
telephone: [1] (202) 833-9860 through 9869
FAX: [1] (202) 659-8124
consulate(s) general: Agana (Guam), Chicago, Honolulu, Los Angeles,
New York, San Francisco

Diplomatic representation from the US:
chief of mission: Ambassador Dennis C. JETT
embassy: Avenida Encalada, Cuadra 17, Monterrico, Lima
mailing address: P. O. Box 1995, Lima 1; American Embassy (Lima), APO
AA 34031-5000
telephone: [51] (1) 434-3000
FAX: [51] (1) 434-3037

Flag description: three equal, vertical bands of red (hoist side),
white, and red with the coat of arms centered in the white band; the
coat of arms features a shield bearing a llama, cinchona tree (the
source of quinine), and a yellow cornucopia spilling out gold coins,
all framed by a green wreath

@Peru:Economy

Economy-overview: The Peruvian economy has become increasingly
market-oriented, with major privatizations completed since 1990 in the
mining, electricity, and telecommunications industries. In the 1980s,
the economy suffered from hyperinflation, declining per capita output,
and mounting external debt. Peru was shut off from IMF and World Bank
support in the mid-1980s because of its huge debt arrears. An
austerity program implemented shortly after the FUJIMORI government
took office in July 1990 contributed to a third consecutive yearly
contraction of economic activity, but the slide came to a halt late
that year, and in 1991 output rose 2.4%. After a burst of inflation as
the austerity program eliminated government price subsidies, monthly
price increases eased to the single-digit level and by December 1991
dropped to the lowest increase since mid-1987. Lima obtained a
financial rescue package from multilateral lenders in September 1991,
although it faced $14 billion in arrears on its external debt. By
working with the IMF and World Bank on new financial conditions and
arrangements, the government succeeded in ending its arrears by March
1993. In 1992, GDP fell by 2.8%, in part because a warmer-than-usual
El Nino current resulted in a 30% drop in the fish catch, but the
economy rebounded as strong foreign investment helped push growth to
7% in 1993, about 13% in 1994, and 6.8% in 1995. Growth slowed to
about 2.8% in 1996 as the government adopted tight fiscal and monetary
policy to reduce the current a