Searcher
Francisco Grippa
Francisco Grippa
Principal Economist
Peru

Francisco Grippa is the Chief Economist for Peru. Until mid-2018 he was the Principal Economist for the same country. 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

After a two-month pause, the Board of the Central Reserve Bank of Peru (BCRP) decided to cut the monetary policy rate by 25 basis points in November, from 2,50% to 2,25%.
We forecast a GDP expansion of 2,5% in 2019, similar to our August forecast. For 2020 we anticipate GDP will grow 3,1% thanks to the normalization of primary activities (mining) and a stronger push from public spending.
Venezuelan immigrants to Peru over the last three years (more than 800,000, equivalent to 2.4% of the Peruvian population) have had non-negligible impacts on aggregate demand and potential GDP.