Peru

Humala is unlikely to recover initiative, risking stasis in his last 18 months

Lower oil prices and indigenous activism may bring about a rethink in hydrocarbons investment programmes

Stimulus measures to boost domestic demand may flounder if primary products prices do not pick up

Although above-target inflation will limit prospects for rate cuts, lower growth will equally avert short-term increases

Mining dependency risks political and economic upheaval if copper remains low

The prime minister looks increasingly likely to survive, but Humala faces 18 months of lame-duck status

The president increasingly appears to be a lame duck, raising instability fears over his last 18 months in office

The copper price has plunged this month, as a speculators' sell-off adds to oversupply issues