Diplomatic representation in the US: chief of mission: Ambassador Alfonso RIVERO Monsalve chancery: 1700 Massachusetts Avenue NW, Washington, DC 20036 telephone: (202) 833-9860 through 9869 FAX: (202) 659-8124 consulate(s) general: Chicago, Houston, Los Angeles, Miami, New York, Paterson (New Jersey), San Francisco
Diplomatic representation from the US: chief of mission: Ambassador John HAMILTON embassy: Avenida Encalada, Cuadra 17, Monterrico, Lima mailing address: P. O. Box 1995, Lima 1; American Embassy (Lima), APO AA 34031-5000 telephone: (1) 434-3000 FAX: (1) 434-3037
Flag description: 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
@Peru:Economy
Economy - overview: The Peruvian economy has become increasingly market-oriented, with major privatizations completed since 1990 in the mining, electricity, and telecommunications industries. Thanks to strong foreign investment and the cooperation between the FUJIMORI government and the IMF and World Bank, growth was strong in 1994-97 and inflation was brought under control. In 1998, El Nino's impact on agriculture, the financial crisis in Asia, and instability in Brazilian markets undercut growth. And 1999 was another lean year for Peru, with the aftermath of El Nino and the Asian financial crisis working its way through the economy. Lima did manage to complete negotiations for an Extended Fund Facility with the IMF in June 1999, although it subsequently had to renegotiate the targets. Pressure on spending is growing in the run-up to the 2000 elections. Nevertheless, improved commodity prices and the recovery of the fishing sector should help drive GDP growth above the 5% mark in 2000.
GDP: purchasing power parity - $116 billion (1999 est.)
GDP - real growth rate: 2.4% (1999 est.)
GDP - per capita: purchasing power parity - $4,400 (1999 est.)
GDP - composition by sector: agriculture: 13% industry: 42% services: 45% (1998)
Population below poverty line: 54% (1991 est.)