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 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 economics considers to be "prudent" fiscal spending is nothing more than a means to restrict government spending in order to make