Overview

• Speaking at the BCRP’s Encuentro Económico in Piura on October 6, Julio Velarde said Peru’s terms of trade are the strongest since 1950–1951.
• He highlighted a trade surplus and a positive current account alongside low inflation, noting short‑term indicators point to an ongoing recovery.
• Velarde described the sol as a relatively stable currency supported by ample international reserves.
• He said recent foreign tariff measures have had limited effects on Peru because average tariff rates are low and many imports are exempt.
• He promoted Piura’s prospects in hydrocarbons, gas, phosphates and the modernized Talara refinery, stressing that gains require investment in infrastructure and basic services as the forum gathered officials, businesses and universities.