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Tuesday, June 5

Economist Intelligence Unit Toledo takes the prize: "The Peruvian economy has been in recession for three years, and while Mr Toledo has promised swift measures to reactivate economic activity, it will be difficult to achieve this while maintaining fiscal discipline, which he has also pledged to do. The economy has suffered with low levels of investment, caused in part by the political uncertainty that has reined since a fraud-ridden presidential election in 2000, as well as sharp cuts in government expenditure since September, depressed external demand from a slowing US economy and falling commodity prices." Some economists are less pessimistic about short-term prospects because investment and confidence has been slow low for so long that political renewal will release pent-up energy. Medium- and long-term prospects are much murkier.

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