Searcher
Francisco Grippa
Francisco Grippa
Principal Economist
Peru

Francisco Grippa is Principal Economist of BBVA Research in Peru. Francisco is in charge of a team focused on the macro assessment of the Peruvian economy. Besides, he is a lecturer at the Economics and Finance Faculty in Universidad del Pacífico.

Francisco has previously been the Peruvian ViceMinister of SME and Industry, President of the Board at the Peruvian Research and Competitiveness Fund (FIDECOM), and Member of the Board at the Labour Training and Employment Promotion Fund (FONDOEMPLEO), the Innovation, Science, and Technology Fund (FINCYT), and the Commission for Promoting Peruvian Exports and Tourism (PROMPERÚ), among other similar positions. He has also worked leading the Peruvian Central Bank’s monetary policy department.

He holds a MSc in Economics from the London School of Economics and Political Science (London, UK), a MSc in Finance from the Graduate Programme in Economics, Finance, and Management at Universitat Pompeu Fabra (Barcelona, Spain), and a BA from Universidad del Pacífico (Lima, Peru). Francisco’s research includes macroeconomics issues such as monetary policy, inflation targeting, dollarisation, among others, and sectoral analysis.

Latest publications

Isolation measures imposed in order to contain the propagation of the coronavirus are having a strong impact on GDP. In this context, we expect it to contract this year between -18% and -12%, with a rebound between 6,5% and 10,5% in 2021 that will, however, be insufficient to reach the level of activity observed in 2019.
In May, GDP contracted by 32.8% YoY, reflecting the isolation measures implemented since mid-March to contain the spread of the coronavirus.
The Board of the Central Bank decided to maintain the monetary policy rate at 0,25% in July. The Bank renewed its commitment to maintain a strongly expansive stance for a prolonged period and placed emphasis on its efforts to provide liquidity to the market.