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Julio Velarde |
Julio Velarde, president of Peru’s central bank, believes the country’s $40 billion of private pension funds will double in size during the next five years, helping capital markets to become even more dynamic. Peru’s economy has expanded at an annual average rate of 7.4% during the past five years, the fastest rate in Latin America. The central bank says it grew by 6.9% last year and forecasts 5.6% this year.
“Peru is being transformed,” says Velarde.
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