President Garcia announces war economy program
On March 8, 1988, President Alan Garcia Perez announced an economic program he called 'war economy', after meetings with his economic team. The program combined orthodox and heterodox measures to face the country's economic crisis.
President Alan Garcia Perez unveiled an economic program that he described as a 'war economy', after a long meeting with the so-called economic group made up of ministers, officials and advisors. This program was approved by the Council of Ministers and combined orthodox and heterodox economic measures. The announcement took place in a context of economic crisis that led the government to take drastic decisions. Subsequently, on March 25, the legislative decree creating the system of self-managed banks in the country was published.