Peru : Second Review Under the Stand-By Arrangement and Requests for Establishment of Performance Criteria Wavier of Nonobservance of Performance Criteria and Rephasing of Future Disbursements 2005 Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru; Second Review Under the Stand-By Arrangement and Requests for Establishment of Performance Criteria, Wavier of Nonobservance of Performance Criteria, and Rephasing of Future Disbursements-2005 Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Peru.

This paper discusses key findings of the Second Review Under the Stand-By Arrangement for Peru. The economy continued to perform well in 2004. Real GDP grew by 5.1 percent, inflation was 3.5 percent at end-December, and the fiscal deficit of the combined public sector narrowed to 1.1 percent of GDP....

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