Analysis by Region - Emerging Markets - Argentina
Due to the severe social unrest in Peru dampening economic activity in Q4 2022 and slowing the carry-over for the beginning of next, we have downgraded our 2023 GDP forecast by 0.2ppts to 2.7%. So far, protests are estimated to have cost about 0.2% of GDP. The most recent political turmoil ended with President Castillo being ousted by Congress after a failed attempt to lead a coup d'etat. This has increased uncertainty surrounding Peru's governability.
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