Overview

• Mauricio Macri used his keynote to call populism the chief threat to democracy and urged Peruvian business leaders to train candidates, engage in politics and improve communication to secure social license for mining.
• Julio Velarde said the next government’s top priority must be macroeconomic stability and preserving BCRP independence to keep inflation low and avoid short‑term policy temptations.
• Velarde reported that Peru’s exposure to CIADI arbitration has tripled in the past decade, lifting fiscal contingencies to roughly 2%–3% of GDP and underscoring the need for predictable rules.
• Panels of CEOs from banking, energy, cement and tourism agreed that eroding institutional quality, legal uncertainty, bureaucracy and pervasive informality are deterring investment and slowing productivity.
• A letter from Fed Chair Jerome Powell praising Velarde’s leadership was presented, as Velarde also warned that U.S. tariffs under President Trump erode long‑term productivity even as near‑term U.S. recession fears have eased.