After participating in the 2014 Latin American Cities Conferece in Lima on November 21, Mauro Leos spoke with AS/COA Online about the country's macroeconomic future. The Moody's Investor Service vice president and senior credit officer for Latin America noted that Peru's new sovereign rating will hold out for the next few years because of the country's economic growth. Between 2008 and 2013, the average GDP growth stayed above 6 percent, and strong government accounts helped earn the country an "A" rating, with a new group of peers like Malaysia and Poland. According to Leos, the challenges for Peru to improve its portfolio include strengthening the country's institutions and boosting incomes.
During the Lima conference, participants debated the role of climate change on Peru's economy and the role of the private sector. Leos explained that Moody's does not yet take climate change into account when rating countries, but this could change by the end of the decade.