In Lima for the IMF-World Bank annual meeting, Angel Gurria, the general secretary of the OECD, the grouping of developed countries which Peru aspires to join, unveiled a new report which claims that more than seven out of ten (73%) Peruvians labour in the informal sector (or are unemployed) while only 27% are adequately employed in the formal sector of the economy. He mentioned specifically informality, low levels of productivity and social inequality as the problems that Peru needs to address. According to Labour Minister Daniel Maurate, the high degree of informality is due, at least in part, to Peru’s position as a mining economy. Mining activity is highly capital intensive and generates relatively little by way of employment. Maurate also attributed this to Peru’s failure to pursue policies in pursuit of technology and improved education, although not without recognising President Humala’s attempts to promote these.