Peru\'s finance minister rules out future recession

Peru\'s Finance Minister Luis Miguel Castilla said Thursday the coming months won\'t see a recession, but warned that financial authorities should \"be prepared\" for a global economic slowdown as it would have repercussions on the Andean nation. Castilla said there are \"remote\" possibilities that a recession may hit Peru\'s economy, but the ongoing effects of the international crisis are still difficult to assess. \"It is not correct to speak about a crisis in Peru, because the country\'s rates are growing dynamically and the inflation is showing a downward trend,\" he said. As a precautionary measure against a potential international crisis, the Peruvian government has issued an urgent decree to implement a stimulus plan worth 1.571 billion U.S. dollars.