Editing Economy of Peru (section)

=== 21st century ===
[[File:Peru bonds.webp|300px|thumb|Peru bonds
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==== Lima Consensus ====
{{Main|Lima Consensus}}
Initially established by the Fujimori administration, the Lima Consensus focused on [[deregulation]] and [[privatization]] with the goal of establishing a [[neoliberal]] economy, all while limiting the involvement of the government in the [[public sector]].<ref name="CL" /><ref name="HP" /> As the [[Washington Consensus]] lost popularity in the 2000s, a more defined Lima Consensus began to emerge in Peru as the economy simultaneously improved during the [[2000s commodities boom]].<ref name="EC">{{Cite web|date=11 May 2013|title=El Consenso de Lima|trans-title=The Lima Consensus|url=https://larepublica.pe/archivo/710401-el-consenso-de-lima/|access-date=23 February 2022|website=[[La República (Peru)|La Republica]]|language=es|location=Lima}}</ref> While Latin American governments invested into [[social programs]] for education, healthcare and poverty programs in the early 21st century, Peru under the Consensus chose to cut social programs.<ref name="FT" /><ref>{{Cite web|last=Holland|first=Lynn|date=30 July 2014|title=The House on the Mountain: How Mining Corrodes Democracy in Peru|url=https://www.coha.org/the-house-on-the-mountain-how-mining-corrodes-democracy-in-peru/|access-date=23 February 2022|website=[[Council on Hemispheric Affairs]]|language=en-US}}</ref> President [[Alejandro Toledo]] continued to promote the [[decentralization]] of Peru,<ref name="CL" /> while the former [[social democrat]] [[Alan García]] took implementation of the consensus even further, adopting policies similar to [[Augusto Pinochet]].<ref name="HP" /><ref name="EC" /> [[Keiko Fujimori]], the daughter of Alberto Fujimori, has been a major proponent for the Lima Consensus, using the support of neoliberal economist [[Hernando de Soto (economist)|Hernando de Soto]] to support her position during her elections.<ref name="PC" /> This lack of state intervention as promoted by the Consensus has resulted with a weak government with poor performance, with many Peruvians experiencing insufficient basic services such as education, justice and security while corruption, crime, [[crony capitalism]] and [[economic inequality]] increased as many political officials frequently moving between business and government positions without oversight.<ref name="FT" /><ref name="HP" />

Following the [[2021 Peruvian general election]] that saw lefitst candidate [[Pedro Castillo]] elected into the presidency, [[Fitch Solutions]] warned that his election posed "substantial risks to the 'Lima Consensus', the investor-friendly economic policy framework that has persisted over the last 20 years".<ref>{{Cite book|title=Peru country risk report – Q4 2021|publisher=[[Fitch Solutions]]|year=2021|location=London|pages=45}}</ref>