Crisis atlas / PER / 1976–1999

Peru, 1976–1999

One crisis episode: distinct crisis years merged across gaps of up to two non-crisis years. Types, source agreement, and macro context are drawn from the union of five primary chronologies.

CurrencySovereign debtBanking

Crisis years in this episode

Every distinct (year, type) event inside the 1976–1999 window, with the chronologies flagging it and the count of agreeing sources. Start-year sources (GMD, JST) mark only the first year, so agreement falls in the continuation years.

1976
Currencygmd, laeven_valencia, rr3 sources
Sovereign debtrr1 source
1977
Currencyrr1 source
1978
Currencyrr1 source
Sovereign debtgmd, laeven_valencia, rr3 sources
1979
Currencyrr1 source
1980
Currencyrr1 source
Sovereign debtrr1 source
1981
Bankinggmd1 source
Currencygmd, laeven_valencia, rr3 sources
1982
Currencyrr1 source
1983
Bankinglaeven_valencia, rr2 sources
Currencyrr1 source
Sovereign debtrr1 source
1984
Bankingrr1 source
Currencyrr1 source
Sovereign debtrr1 source
1985
Bankingrr1 source
Currencyrr1 source
Sovereign debtrr1 source
1986
Bankingrr1 source
Sovereign debtrr1 source
1987
Bankingrr1 source
Currencyrr1 source
Sovereign debtrr1 source
1988
Bankingrr1 source
Currencygmd, laeven_valencia, rr3 sources
Sovereign debtrr1 source
1989
Bankingrr1 source
Currencyrr1 source
Sovereign debtrr1 source
1990
Bankingrr1 source
Currencyrr1 source
Sovereign debtrr1 source
1991
Currencyrr1 source
Sovereign debtrr1 source
1992
Currencyrr1 source
Sovereign debtrr1 source
1993
Currencyrr1 source
Sovereign debtrr1 source
1994
Sovereign debtrr1 source
1995
Sovereign debtrr1 source
1996
Sovereign debtgmd, laeven_valencia, rr3 sources
1997
Sovereign debtrr1 source
1998
Bankinggmd1 source
Currencyrr1 source
1999
Bankingrr1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Laeven-Valencia banking-crisis detail

Episode-level fiscal cost and output loss from the systemic banking crises database. Fiscal cost is the gross outlay of banking-sector rescues; output loss is the cumulative deviation of real GDP from its pre-crisis trend, both as a percent of GDP.

Banking episode 1983

Not reported

Fiscal cost, % of GDP

55.2%

Output loss, % of GDP

1983

Episode end year

Source: Laeven & Valencia (2026), IMF WP/26/94, Systemic Banking Crises Database 1970-2025 Methodology

Macro context, 1969–2006

Seven years either side of the episode. Each panel has its own scale; the crisis window is shaded. Only indicators with data for Peru in this window are shown. Bank credit growth (year over year in total loans) is available for the 18 Jordà-Schularick-Taylor advanced economies.

Inflation (% y/y)

Real GDP growth (% y/y)

Policy rate (%)

Govt debt (% of GDP)

Unemployment (%)

Current account (% of GDP)

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 (credit) Real GDP growth is derived as the year-over-year change in real GDP; current account and government debt are percent of GDP; policy rate is the central-bank rate; bank credit growth is the year-over-year change in JST total loans. Methodology

How each source dates this episode

The chronologies disagree on start years and durations. This table is generated from the event rows, not curated: it lists, per crisis type, which source flags which years inside the window.

Currency

Global Macro Database1976, 1981, 1988
Laeven-Valencia1976, 1981, 1988
Reinhart-Rogoff1976, 1977, 1978, 1979, 1980, 1981, 1982, 1983, 1984, 1985, 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1998

Sovereign debt

Reinhart-Rogoff1976, 1978, 1980, 1983, 1984, 1985, 1986, 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994, 1995, 1996, 1997
Global Macro Database1978, 1996
Laeven-Valencia1978, 1996

Banking

Global Macro Database1981, 1998
Laeven-Valencia1983
Reinhart-Rogoff1983, 1984, 1985, 1986, 1987, 1988, 1989, 1990, 1999

Documented policy responses

7 interventions from the Metrick-Schmelzing banking-crisis database whose recorded year falls inside this episode window (1976–1999). Each row is one documented government or central-bank action, tagged with the database’s own intervention categories and short code, under the crisis code it assigns. Matching is exact: same country, intervention year inside the window. The database’s global-crisis rows (no country) are never matched here.

PER-1983Peru

Jan-1982Capital injectionsAHCI
Jan-1983LendingAHEL
1983-1990Capital injectionsBBCI
Apr-1983Capital injectionsAHCI

PER-1987Peru

Oct-1987RestructuringRES

PER-1999Peru

Dec-1998Capital injectionsAHCI
Jun-1999Asset managementAHAM

Source: Metrick-Schmelzing Banking-Crisis Interventions Database (Yale Program on Financial Stability) Cite as: Metrick, Andrew, and Paul Schmelzing, "Banking-Crisis Interventions Across Time and Space," working paper, 2024 (dataset consulted 2026-07-10). License: Creative Commons attribution. Methodology

Policy-response case studies (external)

For qualitative accounts of how authorities intervened in systemic crises, see the Yale Program on Financial Stability New Bagehot Project, a library of financial-crisis intervention case studies. It is a separate qualitative resource; no specific case is asserted to match this episode.