Ambassador Prepares MBA Students for Trip to Peru

When students in Georgetown’s Evening MBA program travel to Peru this summer, they will land in Lima with a greater understanding of the country, thanks to a presentation by Peruvian Ambassador Luis Miguel Castilla.

Castilla spoke to the students at the McDonough School of Business on May 27, sharing his insights on the country’s economy and culture.

The 41 students will travel to Peru for one week in July, marking the culmination of their Global Business Experience consulting course. The MBAs will present eight projects for companies like L’Oreal and Pulso Corporacion Medica, and Tierra Viva Hotels.

“This is a country that has transformed itself tremendously over the past few decades,” Castilla said, citing a decline in the poverty rate, lower inflation, and increased wealth.

Castilla shared the three pillars of Peru’s growth strategy, including strong and responsible economic management, private investment, and trade.

Peru is working on several trade agreements, including with Russia, and is one of 12 countries in the Trans-Pacific Partnership (TPP).

“Unlike other trade agreements, there is an emphasis on generating growth for small- and medium-sized enterprises (SMEs),” Castilla said about TPP.

Despite the recession facing Latin America, Castilla believes Peru will continue to be a global leader.

“Peru is quite well positioned to face complicated times in the world,” he said.

He acknowledged the challenges facing the country, from an inefficient government bureaucracy to corruption.

“We need to invest in human capital and infrastructure, and we need to diversify,” he said. “All of the things I have mentioned are the means to an end: Improving the welfare of our people.”

Wilbert Hidalgo, assistant director of global programs at Georgetown McDonough, grew up in Peru and will accompany the MBA students on their trip this summer.

“Castilla gave an insightful presentation on the Peruvian economy based on his first-hand experience heading the Ministry of Economy and Finance and from his current job as a diplomat,” Hidalgo said. “He not only explained the outstanding macroeconomic performance of the country but also the challenges we still have to address in terms of poverty and inequality reduction.”