Peru

Download or read book Peru written by Miranda Jasper and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peru, a coca-producing country in the Andean region of South America, has had a turbulent political history. Despite its tumultuous past, Peru has recently taken steps to consolidate its democracy and pursue market-friendly economic policies. For the past six years, Peru, a leading mineral exporter, has posted some of the fastest economic growth rates in Latin America. GDP growth reached 8% in 2006 and, despite damage caused by a recent earthquake, is expected to exceed 7% in 2007. In June 2006, former president Alan García (1985-1990) was elected president in a close race. Since taking office, García has embraced the proposed United States-Peru Trade Promotion Agreement (PTPA) and launched an aggressive coca eradication campaign. The United States enjoys strong ties with Peru, with trade issues a key U.S. priority. The proposed PTPA was ratified by the Peruvian legislature in June 2006, and amended to include labor and environmental provisions in June 2007. After a trip to Peru in August 2007, congressional leaders indicated that consideration of the proposed PTPA would likely occur this fall. See CRS Report RL34108, U.S.-Peru Economic Relations and the U.S.- Peru Trade Promotion Agreement and CRS Report RS22521, Peru Trade Promotion Agreement: Labor Issues. This report will be updated periodically.