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Peru Location : Western South America, bordering the South Pacific Ocean, between Chile and Ecuador
Capital City : Lima
Curreny : nuevo sol (PEN)
Languages Spoken : Spanish (official), Quechua (official), Aymara
Climate : varies from tropical in east to dry desert in west; temperate to frigid in Andes
National Holiday : Independence Day, 28 July (1821)
Background Information
Ancient Peru was the seat of several prominent Andean civilizations, most notably that of the Incas whose empire was captured by the Spanish conquistadores in 1533. Peruvian independence was declared in 1821, and remaining Spanish forces defeated in 1824. After a dozen years of military rule, Peru returned to democratic leadership in 1980, but experienced economic problems and the growth of a violent insurgency. President Alberto FUJIMORI's election in 1990 ushered in a decade that saw a dramatic turnaround in the economy and significant progress in curtailing guerrilla activity. Nevertheless, the president's increasing reliance on authoritarian measures and an economic slump in the late 1990s generated mounting dissatisfaction with his regime. FUJIMORI won reelection to a third term in the spring of 2000, but international pressure and corruption scandals led to his ouster by Congress in November of that year. A caretaker government oversaw new elections in the spring of 2001, which ushered in Alejandro TOLEDO as the new head of government.
Geographical Note
shares control of Lago Titicaca, world's highest navigable lake, with Bolivia; remote Lake McIntyre is the ultimate source of the Amazon River
Economy
Thanks to strong foreign investment and the cooperation between the 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. Political instability resulting from the presidential election and FUJIMORI's subsequent departure from office limited growth in 2000. The downturn in the global economy further depressed growth in 2001. President TOLEDO, who assumed the presidency in July 2001, is working to reinvigorate the economy and reduce unemployment. Economic growth in 2002 is projected to be 3 to 3.5%.
Religions
Roman Catholic 90%
Ports : Callao, Chimbote, Ilo, Matarani, Paita, Puerto Maldonado, Salaverry, San Martin, Talara, Iquitos, Pucallpa, Yurimaguas
International Disputes - Risks to travellers
: dispute with Chile over the economic zone delimited by the maritime boundary; Colombian drug activities penetrate Peruvian border area
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