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Peru


Peru's gross domestic product in the late 1980s was $19.6 billion, or
about $920 per capita. Although the economy remains primarily agricultural, the
mining and fishing industries have become increasingly important. Peru relies
primarily on the export of raw materials—chiefly minerals, farm products, and
fish meal—to earn foreign exchange for importing machinery and manufactured
goods. During the late 1980s, guerrilla violence, rampant inflation, chronic
budget deficits, and drought combined to drive the country to the brink of
fiscal insolvency. However, in 1990 the government imposed an austerity program
that removed price controls and ended subsidies on many basic items and allowed
the inti, the national currency, to float against the United States dollar.
About 35 percent of Peru's working population is engaged in farming.
Most of the coastal area is devoted to the raising of export crops; on the montañ
a and the sierra are mainly grown crops for local......

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Approximate Word Count: 883
Approximate Pages: 4 (250 words per double-spaced page)

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