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The collapse of the fishing industry caused immense negative effects on the Peruvian economy. Loans were provided to the industry by the Peruvian government to keep the industry afloat, however, the worsening of the situation led to these loans becoming difficult to be repaid, leading to debt, which in turn negatively affected the national ...
The Peruvian anchoveta (Engraulis ringens) is a species of fish of the anchovy family, Engraulidae, from the Southeast Pacific Ocean. It is one of the most commercially important fish species in the world, with annual harvests varying between 3.14 and 8.32 million tonnes from 2010 to 2021.
The Peruvian anchovy fishery is one of the largest in the world, far exceeding catches of the other anchovy species. In 1972, it collapsed catastrophically due to the combined effects of overfishing and El Niño [ 42 ] and did not fully recover for two decades.
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Individual fishing quotas (IFQs), also known as "individual transferable quotas" (ITQs), are one kind of catch share, a means by which many governments regulate fishing. The regulator sets a species -specific total allowable catch (TAC), typically by weight and for a given time period.
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