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19 August 2010
PERU: Economy Sizzles... But Garcia May Reshuffle Cabinet.
REUTERS/ As his nation's economy sizzles, President Alan Garcia insists that persisting rumors over the departure of Finance Minister Mercedes Araoz... are not true. "With the economy you have to be calm," Garcia said. Araoz has only been in place for 9 months but has been encouraged by Garcia's party to run for office. Peru's GDP is expected to grow about 7%...but some forecasts are higher even as surging domestic demand, construction and easier credit, replace the traditional mineral exports.