Peru’s economy is recovering well, with the IMF praising the country’s efforts to manage inflation and growth despite external challenges. Inflation dropped from 8% in 2022 to 2% in October 2024, and the economy grew 3.2% in September 2024, driven by mining, hydrocarbons, agriculture, and construction. The government forecasts 3.2% growth for 2024, marking a strong rebound from a 0.6% contraction in 2023.