Peru–Spain relations Peru–Spain relations Peru–Spain relations are foreign relations between Peru and Spain. Both nations are members of the Organization of Ibero-American States and the United Nations. Peru and Spain share a long history since the arrival of the first Spanish conquistadores led by Francisco Pizarro in 1532. By 1534, Pizarro managed to overcome the Incan Empire and claimed the territory for Spain. In 1535, Spain founded the city of Lima which would become the seat of power and capital for the Viceroyalty of Peru which was created in 1542 and at its highest incorporated most of the South American nations. In
Economy of Peru and political stability, but it slowed again after the government delayed privatizations and as political uncertainty increased in 2000. President Alejandro Toledo has made investment promotion a priority of his government. While Peru was previously marked by terrorism, hyperinflation, and government intervention in the economy, the Government of Peru under former President Alberto Fujimori took the steps necessary to bring those problems under control. Democratic institutions, however, and especially the judiciary, remain weak. The Government of Peru's economic stabilization and liberalization program lowered trade barriers, eliminated restrictions on capital flows, and opened the economy to foreign investment, with the result