History of Lima

The history of Lima, the capital of Peru, began with its foundation by Francisco Pizarro on January 18, 1535. The city was established on the valley of the Rímac River in an area populated by the Ichma polity. It became the capital of the Viceroyalty of Peru and site of a Real Audiencia in 1543. In the 17th century, the city prospered as the center of an extensive trade network despite damage from earthquakes and the threat of pirates. However, prosperity came to an end in the 18th century due to an economic downturn and the Bourbon Reforms.