Peru
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Location:
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Western South America, bordering the
South Pacific Ocean, between Chile and Ecuador
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Background:
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Ancient Peru was the seat of several
prominent Andean civilizations, most notably that of
the Incas whose empire was captured by the Spanish
conquistadores in 1533. Peruvian independence was
declared in 1821, and remaining Spanish forces
defeated in 1824. After a dozen years of military
rule, Peru returned to democratic leadership in
1980, but experienced economic problems and the
growth of a violent insurgency. President Alberto
FUJIMORI's election in 1990 ushered in a decade that
saw a dramatic turnaround in the economy and
significant progress in curtailing guerrilla
activity. Nevertheless, the president's increasing
reliance on authoritarian measures and an economic
slump in the late 1990s generated mounting
dissatisfaction with his regime. FUJIMORI won
reelection to a third term in the spring of 2000,
but international pressure and corruption scandals
led to his ouster by Congress in November of that
year. A caretaker government oversaw new elections
in the spring of 2001, which ushered in Alejandro
TOLEDO as the new head of government. |
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Exchange rates:
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nuevo sol per US dollar - 3.52
(2002), 3.51 (2001), 3.49 (2000), 3.38 (1999), 2.93
(1998) |
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