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Celebration of Peru's economic boom comes late

The world's top finance officials lavished praise on Peru's "economic miracle" this week, lauding it for cutting poverty by half during a decade-long bonanza of record-high prices for gold, copper and other metals it mines. In a gleaming $160 million convention center built for the meeting of the World Bank and International Monetary Fund, policymakers called Peru a prize pupil of their prescriptions for financial stability. World Bank President Jim Yong Kim deemed it a "growth star." IMF chief Christine Lagarde likened Peru's economic growth recipe to its world-famous cuisine. Unfortunately, the praise may have come too late. Plunging prices for...