Despite the effusive optimism that exudes from the office of Alonso Segura, the Minister of Economy and Finance, there are few signs of the promised pick-up in growth. Figures for February show the rhythm of growth was 0.9%, lower than January’s 1.7%, and that the growth rate for the first two months of 2015 was only 1.3%. Growth in 2014 was 2.8%, the lowest since 2009 when Peru suffered the backwash from the global financial crisis of 2008. One of the most affected sectors in February was construction (down nearly 10% on February last year); the construction sector has been one of the main motors of growth in the economy in the last few years. Undaunted, Segura thinks that GDP will grow this year by 4.8%. The IMF, for one, does not share his optimism. In its latest forecast for Peruvian growth in 2016, it predicts that growth will be no more than 3.8% in 2016. Not only are there few signs of any rapid recovery this year, but Peru may suffer the effects of the El Niño phenomenon. This can have disastrous impacts on agriculture and fishing.