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    Francisco Grippa
    Francisco Grippa
    BBVA Research - Principal Economist

    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.

    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

    March 13, 2024

    Peru Economic Outlook. March 2024
    Economic activity will rebound this year as the negative shocks that affected it in 2023 revert and the environment for private sector spending improves. Output is expected to grow 2,7%, higher than our three-months-ago forecast (2,0%), as weather anomalies related to the coastal El Niño phenomenon have been less intense.

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    December 5, 2023

    Peru Economic Outlook. December 2023
    The economy will contract 0,4% in 2023, negatively affected by successive shocks. The impact of most of these shocks (except for El Niño) will vanish in 2024 and economic activity will grow again (2,0%). The recovery will be completed in 2025, with output growing around 3,5%.

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    October 6, 2023

    Peru | Peruvian central bank cuts again its policy rate by 25bp, without surprises
    The Central Bank cut today its key rate by 25 basis points, to 7,25%, without surprises despite FX volatility. Thus, the monetary policy normalisation process that began last month continues. The BCRP is in data-dependent mode. We believe the policy rate will move further down in the short-term.

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