{{Short description|Peruvian economist (born 1960)}} {{Use dmy dates|date=November 2021}} {{Infobox officeholder | name = Pedro Francke | image = Pedro Francke (EC PERU) (cropped2).jpg | office = [[Ministry of Economy and Finance (Peru)|Minister of Economy and Finance]] | term_start = 30 July 2021 | president = [[Pedro Castillo]] | prime_minister = [[Guido Bellido]]<br />[[Mirtha Vásquez]] | deputy = | predecessor = Waldo Mendoza | successor = [[Óscar Graham]] | office2 = [[Ministry of Women and Vulnerable Populations|Director of the National Fund for Social Development Cooperation]] | president2 = [[Alejandro Toledo]] | minister2 = Doris Sánchez<br/>Cecilia Blondet | term_start2 = August 2001 | term_end2 = May 2002 | predecessor2 = | successor2 = | birth_date = {{birth date and age|1960|11|1|df=y}} | birth_place = [[Lima]], [[Peru]] | death_date = | death_place = | occupation = [[Economist]] | party = [[New Peru]] (2020-present) | other_party = [[Broad Front (Peru)|Broad Front]] (2010-2016) | alma_mater = [[Pontifical Catholic University of Peru]] ([[Bachelor of Arts|BA]], [[Master of Arts|MA]]) | signature = <!-- filename only --> | website = {{URL|pedrofrancke.com}} | term_end = 1 February 2022 }}
'''Pedro Andrés Toribio Topiltzin Francke Ballvé''' (born 1 November 1960) is a Peruvian [[economist]] who served as the [[Ministry of Economy and Finance (Peru)|minister of economy and finance]] from 30 July 2021 to 1 February 2022.<ref name=":3">{{Cite news|last=Long|first=Gideon|date=2022-02-01|title=Peruvian finance minister quits amid government chaos|work=Financial Times|url=https://www.ft.com/content/f76de6b3-48f6-4f37-a0fe-f3b113dd028e|access-date=2022-02-02}}</ref> He has advised various politicians within [[Peru]] and is an expert on [[poverty]], health and [[social policies]] studies.<ref name=":0">{{Cite web|title=Plana Docente {{!}} Universidad Científica del Sur|url=https://posgrado.cientifica.edu.pe/maestrias-en-salud/alta-gerencia-servicios-salud/plana-docente|access-date=2021-06-07|website=posgrado.cientifica.edu.pe}}</ref>
== Economics career == Francke received his [[Master of Economics]] from the [[Pontifical Catholic University of Peru]].<ref name=":0" />
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).<ref name=":0" /> Francke also served roles in the [[Central Reserve Bank of Peru]] and as an economist for the [[World Bank]].<ref name=":1">{{Cite web|date=4 June 2021|title=Peru Leftist's Aide Rejects Hugo Chavez Comparison: 'No Way'|url=https://www.bloomberg.com/news/articles/2021-06-04/peru-s-presidential-frontrunner-is-no-hugo-chavez-top-aide-says|access-date=2021-06-07|website=[[Bloomberg.com|Bloomberg]]}}</ref>
== Political career == With his economic advisory of politicians, Francke first assisted [[Verónika Mendoza]] and her political party with their policy ambitions.<ref name=":1" /><ref name=":2">{{Cite web|last=GESTIÓN|first=NOTICIAS|date=2021-06-03|title=Las medidas que plantea Pedro Francke {{!}} ECONOMIA|url=https://gestion.pe/economia/las-medidas-que-plantea-pedro-francke-noticia/|access-date=2021-06-07|website=Gestión|language=es}}</ref> 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.<ref name=":1" /><ref name=":2" /> Daniel Rico of [[RBC Capital Markets]] credited Francke with calming markets fears of Castillo, who was characterized by opponents as a [[far-left]] politician.<ref name=":1" />
Francke presented a roadmap for Castillo's "popular market economy" policies.<ref name=":2" /> 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.<ref name=":2" /> Other main tasks were maintaining a [[balanced budget]], controlling [[inflation]], protecting private property, and renegotiating terms with large resource extraction companies.<ref name=":2" /> Francke said that Castillo was more similar to more successful Latin American leftist leaders, comparing him to [[Lula da Silva]], [[Evo Morales]],<ref>{{cite news |last=Scott |first=Michael |title=Pánico entre los empresarios de Perú ante posible victoria de la ultra izquierda |trans-title=Panic among Peruvian businessmen before a possible victory of the far-left |url=https://www.cronista.com/financial-times/panico-entre-los-empresarios-de-peru-ante-posible-victoria-de-la-ultra-izquierda/ |access-date=4 June 2021 |work=[[Financial Times]] |date=2 June 2021 |language=es}}</ref> and [[José Mujica]], and distanced Castillo from policies similar to [[Hugo Chávez]], opposing actions taken in Venezuela such as [[nationalization]]s, [[price controls]], [[currency controls]], and complex [[foreign exchange rate]]s.<ref name=":1"/>
=== Minister of Economy and Finance === On 30 July 2021, Francke was appointed Minister of Economy and Finance by President Pedro Castillo.<ref>{{Cite web|last=PERÚ|first=Empresa Peruana de Servicios Editoriales S. A. EDITORA|title=Pedro Francke jura como ministro de Economía y Finanzas|url=https://andina.pe/agencia/noticia-pedro-francke-jura-como-ministro-economia-y-finanzas-855708.aspx|access-date=2021-08-01|website=andina.pe|language=es}}</ref>
For his first international trips, President Castillo traveled to Mexico on 17 September 2021 and later to the United States on 19 September.<ref>{{Cite web|last=GESTIÓN|first=NOTICIAS|date=2021-09-19|title=Pedro Castillo: protestan en exteriores de hotel donde se alojará en Washington nndc {{!}} PERU|url=https://gestion.pe/peru/politica/pedro-castillo-protestan-en-exteriores-de-hotel-donde-se-alojara-en-washington-nndc-noticia/|access-date=2021-09-29|website=Gestión|language=es}}</ref> 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.<ref>{{Cite news|last=Stott|first=Michael|date=2021-09-26|title=Peru's radical left government weighs bond issue after wooing investors|work=[[Financial Times]]|url=https://www.ft.com/content/e4aa95d9-f103-4309-84b4-ff16591063c0|access-date=2021-09-29}}</ref>
Francke resigned on 1 February 2022.<ref name=":3" />
=== Sánchez candidacy === During the [[2026 Peruvian general election]], presidential candidate [[Roberto Sánchez (politician)|Roberto Sánchez]] made Francke his potential economic minister.<ref>{{Cite web |last=Paucar |first=Luis |date=2026-05-18 |title=Roberto Sánchez anuncia a Pedro Francke, Manuel Rodríguez Cuadros y José Domingo Pérez como integrantes de su equipo técnico |url=https://www.infobae.com/peru/2026/05/18/roberto-sanchez-anuncia-a-pedro-francke-manuel-rodriguez-cuadros-y-jose-domingo-perez-como-integrantes-de-su-equipo-tecnico/ |access-date=2026-05-30 |website=[[infobae]] |language=es-PE}}</ref> Francke said that a Sánchez government would respect the autonomy of the Central Reserve Bank of Peru and would not engage in [[nationalizations]], saying that exisiting economic contracts would remain recognized.<ref>{{Cite web |last= |date=2026-05-25 |title=Pedro Francke asegura que Juntos por el Perú respetará autonomía del BCR: “Le pediremos a Julio Velarde que siga en su puesto” |url=https://www.expreso.com.pe/politica/pedro-francke-asegura-que-juntos-por-el-peru-respetara-autonomia-del-bcr-le-pediremos-a-julio-velarde-que-siga-en-su-puesto-fuerza-popular-luis-carranza-noticia/1289346/ |access-date=2026-05-30 |website=[[Diario Expreso]] |language=es}}</ref>
== References == {{Reflist}}
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{{DEFAULTSORT:Francke, Pedro}} [[Category:1960 births]] [[Category:Living people]] [[Category:Ministers of economy and finance of Peru]] [[Category:Pontifical Catholic University of Peru alumni]] [[Category:21st-century Peruvian economists]] [[Category:20th-century Peruvian economists]]