Not long ago, Peru seemed near the edge of economic disaster: plunging world prices had pulled the bottom out of the country's cotton and sugar markets, and a huge budget deficit threatened runaway inflation. Today things are different; in a remarkable reversal of form, Peru is prospering at a pace that few other countries on the continent can match.
Luck played a part in the comeback. Vast shoals of anchovies offshore have turned Peru's once-struggling fishing industry into one that will earn upwards of $180 million in exports, mainly of fishmeal, this year....
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