Juan Manuel Ruiz
Juan Manuel Ruiz
Chief Economist

Juan Ruiz has a PhD in Economics from BostonUniversity and a BA in Economics from Universidad Católica del Perú.

He has been working at BBVA Research since 2010 and is currently the Chief Economist for South America. Previously, he was the Head of the International Economics Division at Banco de España, the Spanish Central Bank. He represented Banco de España in many working groups at the European Central Bank, OECD and BIS. He has also worked at the Economic Studies department at SUNAT, the Peruvian Tax Administration.

He has taught at several economics departments, including Universidad Autonoma de Barcelona, Universidad Carlos III de Madrid and University of Essex in the UK.

His areas of expertise include international macroeconomics and trade, and his research has been published in prestigious international academic journals and books, apart from regular columns both in Spanish and Latin American newspapers.

Latest publications

Latin America is expected to grow 1.7% in 2019 and of 2.3% in 2020, less than previously expected (2.1% and 2.4%, respectively), due to the increased difficulties in implementing necessary adjustments and the weaker economic activity figures released in recent months, mainly in Argentina, Brazil and Mexico, against the backdrop of a slowdown in the world economy.
We maintain our growth forecast for Uruguay at 1.3% in 2019 and we revised it downwards in 2020 to 1.9% (before 2.2%). An environment of lower global growth, in Argentina and Brazil, as well as the lack of definition of the beginning of the third pulp mill construction will determine a moderate growth in the next two years.
Global slowdown, increased global financial volatility and worsening commodity prospects will limit growth in the region, in addition to idiosyncratic factors. After growing 1.6% in 2018, the region will expand 2.1% in 2019 and 2.4% in 2020.