The president of Peru's Central Reserve Bank warns that El Niño will be the main risk to the Peruvian economy

The President of the Central Reserve Bank of Peru, Julio Velarde, stated that the El Niño Phenomenon is the main short-term risk to the Peruvian economy, despite favorable indicators such as exceptionally high export prices and a positive trade balance. He specified that the climate event is already affecting primary activities —May GDP grew 1.8% with a 74% drop in fishing output— and warned that the agricultural sector is already showing effects from the phenomenon, with conditions that could worsen in the coming months.