IMF raises Peru’s GDP growth forecast to 3% in 2026 — The Rio Times

The International Monetary Fund has raised its forecast for Peru’s economic growth in 2026 to 3%, from 2.8% projected in April. The updated estimate was published in the October edition of the World Economic Outlook. The Rio Times reports.

According to the IMF, Peru’s economy will grow by 2.9% in 2027. In 2025, the country’s GDP grew by 3.4%, so the fund expects only a slight slowdown in growth.

Inflation forecast

Average annual inflation in Peru in 2026 will amount to 3.8%, according to the IMF’s forecast. This is above the country’s central bank target range of 1% to 3%. For 2027, the fund forecasts inflation at 2.6%.

In April, the IMF expected average annual inflation in Peru to be 2.5% in 2026. In 2025, consumer prices in the country rose by 1.5%, according to the fund’s estimate.

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Regional comparison

The updated forecast for Peru exceeds the expected growth rates of a number of Latin America’s largest economies. The IMF expects Brazil’s economy to grow by 2.2%, Mexico’s by 1.5%, and Chile’s by 0.6% in 2026.

For Latin America and the Caribbean as a whole, the fund forecasts growth of 2.3% in 2026 and 2.5% in 2027. Among South American countries, the IMF forecasts growth rates higher than Peru’s for Venezuela — 5% — and Paraguay — 4.5%.

Peru is one of the world’s leading exporters of copper and gold. According to Andina, Peru’s central bank in September lowered its own growth forecast for 2026 to 3.2% due to El Niño.