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Nearly 50,000 people work in the gold mines at La Rinconada in the Peruvian Andes and live in nearby colonies (photo: dpa)

Crime and corruption add to Peru’s economic woes

Peru’s gold and copper exports have helped it become one of Latin America’s leading economic performers, but falling worldwide mineral prices and internal environmental opposition have hit its trade figures. The government has implemented several economic stimulus measures, but it also has to deal with growing organised crime and corruption. President Ollanta Humala’s poll ratings have slumped and his government is becoming a lame duck administration ahead of the 2016 presidential elections.

<em>It has been a bad year for Peru, yet it continues to be an emerging country with solid macroeconomic fundamentals and an impor...

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 Carlos Basombrio
Exports will fall again in 2014, after a decade of explosive growth. Despite plans to diversify the economy, Peru still depends greatly on mining – it is a major exporter of copper and gold
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