The Future of the Peruvian Economy

The Peruvian government is taking great pains to reinvest the wealth and profits and of its abundant national resources in diversifying the country’s economy and protecting the environment. The Responsible Gold Initiative is working hard to combat Illegal mining, one of the most prominent issues confronting the Peruvian mining industry. Thirty-three thousand “artisanal miners,” a less-confrontational euphemism for illegal miners, are in the process of being organized and formalized through the Responsible Gold Initiative. The program gives miners the necessary support to sell directly to gold importers in Switzerland.

Nonetheless, there is still a long way to go. The Peruvian non-governmental organization Instituto del Bien Comun has found that a large part of the Peruvian Amazon has been destroyed. Approximately 3.5 million acres have been deforested, 25% of which are located in protected indigenous or park areas. In the rush to develop Peru’s mineral wealth, the Peruvian government must be careful not to ignore the country’s abundant natural wealth.  

The Peruvian Minister of Finance and the Economy warned that Peru must also find a replacement for the mining industry, as that sector will no longer be able to fuel the country’s growth on its own. Minister Alonso Segura stressed that Peru needs to focus on diversifying its economic base and make it easy for new businesses to form in the country, thus stimulating innovation and the spread of technology.