16.1 Outline of Peru’s legal environment

16.1.1 Constitutional structure

Peru is a presidential representative democratic republic divided at central and regional government levels and provincial municipalities across the country, operating under the 1993 Peruvian Constitution. Since the early 1990s, the country has embarked on a series of reforms of which fiscal consolidation, trade openness, exchange rate flexibility, financial liberalisation, higher reliance on market signals, and prudent monetary policy, including a strong build-up of reserves, have been key components largely due to the 1993 Constitution.