were provided by the Ministry of Production of Peru. then overfishing is less likely to result from high and moderate risk policies. In Peru, the main commercial stocks are healthy and productive, their status is regularly assessed, and they are managed using an appropriate mix of TACs and input controls. In the case of anchoveta, MSC systems likely mitigate much However, in other fisheries, particularly the artisanal sector, overcapitalisation of the fleet is a persistent albeit unintentionally. Moving away from support that carries a moderate risk of encouraging unsustainable fishing, such as income support, and towards lower risk forms of support, such as MMcS, could help address issues of overcapacity. Alternatively, specific targeting of support to fisheries and fleet segments which are well managed and regulated could help minimise the risks. A careful examination of how individual support policies may be contributing to the issues of fleet overcapitalisation in general, and the growth of informal artisanal fishers in particular, is therefore needed to better understand what types of reforms are needed and where they can be implemented. Notably, however, informality is not an issue risk policies will, nevertheless, benefit the overall sustainability of the sector and its resilience to shocks,