Searcher
Francisco Grippa
Francisco Grippa
Principal Economist
Lima

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

Taking into account a less favorable external scenario, we have revised downwards the growth forecasts for 2022 and 2023, from 2.3% to 2.0% in the first case and from 3.0% to 2.8% in the second.
After a 13.1% rebound in 2021, this year the economy will grow 2.3% in a context of sustained confidence weakness, withdrawal of economic stimuli and lesser external tailwinds, despite the progress in vaccination and the beginning of operations of new copper mines. For 2023, we expect a 3,0% expansion.
The Board of the Central Bank decided to increase the monetary policy rate from 2,50% to 3,00% in January. The Bank changed the forward guidance component, signaling further hikes.