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Thursday, November 22

IMF News Brief: Aninat Welcomes Agreement with Peru on New Program: "The Executive Board is expected to consider Peru's request for a stand-by in January. The new agreement will replace the current one-year stand-by due to expire in March 2002. The program envisages GDP growth in the range of 3.5 - 4 percent in 2002 and 5 percent in 2003, the maintenance of low inflation, and a moderate increase in net international reserves." The blessing of the IMF will not be enough to pull Peru out of its economic hole.



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