Member of: Andean Pact, AIOEC, ASSIMER, CCC, CIPEC, FAO, G-77, GATT,
Group of Eight, IADB, IAEA, IATP, IBRD, ICAO, ICO, IDA, IDB—Inter-American
Development Bank, IFAD, IFC, ILO, ILZSG, INTERPOL, IMF, IMO, INTELSAT, ISO, ITU,
IWC—International Wheat Council, LAIA, NAM, OAS, PAHO, SELA, UN, UNESCO, UPU,
WFTU, WHO, WMO, WSG, WTO
Diplomatic representation: Ambassador Cesar G. ATALA; Chancery at 1700 Massachusetts Avenue NW, Washington DC 20036; telephone (202) 833-9860 through 9869); Peruvian Consulates General are located in Chicago, Houston, Los Angeles, Miami, New York, Paterson (New Jersey), San Francisco, and San Juan (Puerto Rico); US—Ambassador Anthony QUAINTON; Embassy at the corner of Avenida Inca Garcilaso de la Vega and Avenida Espana, Lima (mailing address is P. O. Box 1995, Lima 1010, or APO Miami 34031); telephone [51] (14) 338-000
Flag: three equal, vertical bands of red (hoist side), white, and red with the coat of arms centered in the white band; the coat of arms features a shield bearing a llama, cinchona tree (the source of quinine), and a yellow cornucopia spilling out gold coins, all framed by a green wreath
- Economy Overview: The economy is verging on hyperinflation and economic activity is contracting rapidly. Deficit spending is at the root of domestic economic problems, but poor relations with international lenders—the result of curtailing debt payments since 1985—are preventing an inflow of funds to generate a recovery. Reduced standards of living have increased labor tensions, and strikes, particularly in the key mining sector, have cut production and exports. Foreign exchange shortages have forced reductions in vital consumer imports such as food and industrial inputs. Peru is the world's leading producer of coca, from which the drug cocaine is produced.
GDP: $18.9 billion, per capita $880; real growth rate - 12.2% (1989 est.)
Inflation rate (consumer prices): 2,775% (1989)
Unemployment rate: 15.0%; underemployment estimated at 60% (1989)
Budget: revenues $3.2 billion; expenditures $3.7 billion, including capital expenditures of $796 million (1986)
Exports: $3.55 billion (f.o.b., 1989); commodities—fishmeal, cotton, sugar, coffee, copper, iron ore, refined silver, lead, zinc, crude petroleum and byproducts; partners—EC 22%, US 20%, Japan 11%, Latin America 8%, USSR 4%
Imports: $2.50 billion (f.o.b., 1989); commodities—foodstuffs, machinery, transport equipment, iron and steel semimanufactures, chemicals, pharmaceuticals; partners—US 23%, Latin America 16%, EC 12%, Japan 7%, Switzerland 3%