Moody’s affirmed Peru’s investment-grade rating at Baa1 and improved its outlook to stable from negative. The agency highlighted that political reforms in Peru mitigate medium-term risks related to institutional stability, which could otherwise impact governability. Peru’s central bank remains optimistic about the economy, projecting growth of 3.1% for 2024 and 3.0% for 2025, following a contraction of 0.6% last year.