Following the 2024 Article IV consultation, the IMF noted that Peru is recovering from past economic shocks, projecting Peru’s GDP growth at 2.5% for 2024, which is lower than the local forecasts by Peru’s central bank and fiscal authorities. The IMF anticipates inflation will decline towards the midpoint target, aided by a cautious monetary easing cycle. The fund also expects the current account deficit to stabilize at around 1.5% of GDP in the medium term and suggested enhancements to Peru’s fiscal framework to strengthen economic resilience.