1. On July 14th former International Monetary Fund (IMF) official, Luis Valdivieso, was sworn in as the new Economy and Finance Minister replacing Luis Carranza, who presented his resignation for personal reasons. Valdivieso has had 30 years experience at the IMF. During Carranza's appointment foreign debt was reduced to 18.4% of GDP by the end of 2007,  down from 38% in 2006. Fiscal management allowed a 3% surplus and Peru achieved investment grade rating from Fitch Ratings. 

2. Standard and Poor's became the third ratings agency to grant Peru's foreign currency debt rating investment grade by upgrading it to BBB-. It is the second major agency to do so in 2008 following Fitch Rating's upgrade in April.The Canadian agency DBRS granted investment grade in 2007. S&P's upgrade rallied Peru in stock and bond markets and its currency, the nuevo sol, jumped 0.4% to 2.8220 soles to the dollar.

3. A government plan to pay $1.1 billion ahead of schedule this year to the World Bank and Inter-American Development Bank could lower Peru's foreign debt further to 13% of GDP.

4. Peru's significant economic growth rate has been uninterrupted for over 80 months and is expected to have topped 10% for the first half of 2008. Inflation, however, has been rising (5.71% in June year on year).

5.Foreign Direct Investment (FDI) is expected to reach US $ 8.3 billion in 2008, according to the latest estimates of Peru's Central Bank (BCRP). Stability and consistent economic growth were highlighted by Julio Valverde, BCRP's President, as the major factors that are boosting FDI. Foreign investment was US $ 5.34 billion in 2007 but had already reached US $ 2.9 billion in the first quarter of this year. Projections for 2009 and 2010 are for FDI to surpass 7.5 billion each year, which would place its share in Peru's GDP at 23%, the highest level since the 1950's. According to ECLAC (Economic Commission for Latin America and the  Caribbean) Peru could become the region's fifth largest recipient of FDI in the region.