Peru decided not to renew its Flexible Credit Line (FCL) arrangement with the IMF, a tool designed for crisis prevention. This decision reflects the country’s confidence in its economic buffers and broadly balanced risks. The FCL was valued at USD 4.5 bln in 2022. Although Peru anticipates a GDP growth of 2.5% in 2024, the IMF has highlighted the need for urgent reforms to boost potential growth amid continuing political uncertainty.