Viceroyalty of Peru Guayaquil and El Callao, but on 4 February he captured Valdivia, called at the time "The Key of the South Seas" and the "Gibraltar of the Pacific", due to its huge fortifications. However the viceroyalty managed to defend Chiloé Island until 1826. On September 8, 1820, the "Expedición Libertadora" of Peru, organized mainly by Argentinians and with some Peruvian and Chilean involvement, landed on the beach at Paracas Bay, near the city of Pisco, Peru. The army was under the command of José de San Martín. After fruitless negotiations with the viceroy, San Martín occupied the Peruvian capital of Lima
Economy of Peru temporary commercial preferences given unilaterally by certain countries; a system that did not allow Peruvian exporters embark in long-term export-related investments. Economy of Peru Peru is classified as "upper middle income" by the World Bank and is the 39th largest in the world by total GDP. Peru is one of the world's fastest-growing economies, with a 2012 GDP growth rate of 6.3%. It currently has a high human development index of 0.741 and per capita GDP above $12,000 by PPP. Neo-classical economists would interpret Peru's sound economic performance as a combination of: However, Post-Keynesian economists would argue that what neo-classical