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Pedro Francke
Pedro Francke
Minister of Economy and Finance
	In office; 30 July 2021 – 1 February 2022
President	Pedro Castillo
Prime Minister	Guido Bellido; Mirtha Vásquez
Preceded by	Waldo Mendoza
Succeeded by	Óscar Graham
Director of the National Fund for Social Development Cooperation
	In office; August 2001 – May 2002
President	Alejandro Toledo
Minister	Doris Sánchez; Cecilia Blondet
Personal details
Born	1 November 1960 (age 64); Lima, Peru
Political party	New Peru (2020-present)
Other political; affiliations	Broad Front (2010-2016)
Alma mater	Pontifical Catholic University of Peru (BA, MA)
Occupation	Economist
Website	pedrofrancke.com

Pedro Andrés Toribio Topiltzin Francke Ballvé (born 1 November 1960) is a Peruvian economist who served as the minister of economy and finance from 30 July 2021 to 1 February 2022.^[1] He has advised various politicians within Peru and is an expert on poverty, health and social policies studies.^[2]

Economics career

Francke received his Master of Economics from the Pontifical Catholic University of Peru.^[2]

During his early economics career, Francke served as director of the Cooperation Fund for Social Development (FONCODES), a technical secretary for the Technical Secretary of the Interministerial Commission for Social Affairs, president of the Metropolitan System of Solidarity (SISOL) and the general manager of the Social Health Insurance of Peru (Essalud).^[2] Francke also served roles in the Central Reserve Bank of Peru and as an economist for the World Bank.^[3]

Political career

With his economic advisory of politicians, Francke first assisted Verónika Mendoza and her political party with their policy ambitions.^[3]^[4] Following the surprising success of Pedro Castillo during the 2021 Peruvian general election, Francke began to serve as the main economic advisor of Castillo three days prior to the second round of elections.^[3]^[4] Daniel Rico of RBC Capital Markets credited Francke with calming markets fears of Castillo, who was characterized by opponents as a far-left politician.^[3]

Francke presented a roadmap for Castillo's "popular market economy" policies.^[4] One objective included creating one million jobs in Peru within one year by lowering interest rates, hiring workers for public investment programs, and promoting local production and consumption.^[4] Other main tasks were maintaining a balanced budget, controlling inflation, protecting private property, and renegotiating terms with large resource extraction companies.^[4] Francke said that Castillo was more similar to more successful Latin American leftist leaders, comparing him to Lula da Silva, Evo Morales,^[5] and José Mujica, and distanced Castillo from policies similar to Hugo Chávez, opposing actions taken in Venezuela such as nationalizations, price controls, currency controls, and complex foreign exchange rates.^[3]

Minister of Economy and Finance

On 30 July 2021, Francke was appointed Minister of Economy and Finance by President Pedro Castillo.^[6]

For his first international trips, President Castillo traveled to Mexico on 17 September 2021 and later to the United States on 19 September.^[7] During his tour in the United States, Castillo and Francke met with foreign investors, with two of Peru's largest investors, Freeport-McMoRan and BHP, sharing positive reactions and expressing confidence with the Castillo government following their meetings.^[8]

Francke resigned on 1 February 2022.^[1]