Peru's political crisis and likely early election in 2020 modestly increase the risk to growth. Global commodity prices and weather remain more important. FX rate vulnerability to any slowdown looks low (at least by the standards of emerging and frontier markets), given the small current account deficit and high foreign reserves import cover.
A Mexican stand-off in Peru
President Martin Vizcarra dissolved Congress on 30 September and called for the next election on 26 January 2020. In response, Congress suspended the President and swore in the Vice-President as acting leader...
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