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.

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

Economic activity is expected to grow 1,9% in 2023, six tenth of a percentage point less than our early-December forecast. This revision considers the social upheaval at the beginning of the year and higher political uncertainty, more than offsetting a milder global activity slowdown. A rebound of 3,0% is expected in 2024.
A boom period in mining investment ended in 2022. Sustained political instability, elevated social unrest and policies being implemented in the sector do not favor investment moving forward, in spite of the country having significant mining resources and relatively low production costs.
The economy will grow 2.7% in 2022, an upward revision. In 2023 the expansion will be 2.5% given lower global growth, high interest rates and lower public investment. On the other hand, Quellaveco will reach its operational capacity and tourism will normalize. This will reverse in 2024 and activity will grow 2.4%.