Political noise slows growth- Peru c bank

- Central Banking staff
- 13 Jan 2004

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Peru's central bank president, Javier Silva Ruete, has said the political turbulence shaking the government of Peruvian President Alejandro Toledo is hurting economic growth and could scare off future investment.

Ruete said last week that political infighting and a run of corruption scandals may have cost Peru up to 1.5 per cent in economic growth in 2003, as ordinary Peruvians spend and invest less in Peru's $60 billion economy.

"We need to encourage our own people to invest. Perhaps if there

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