Pedro Francke announces that he is leaving the post of Minister of Economy and Finance

Pedro Francke, former Minister of Economy and Finance. | Photo: Andean Agency
Pedro Francke confirmed this February 1, through his Twitter account, that leaves the post of Minister of Economy and Finance, which was in his charge from the beginning of the government of peter castle and where he remained during the second cabinet. This departure occurs in the midst of a new crisis in the government generated after the resignation of the former Minister of the Interior, Avelino Guillén, which It caused Mirtha Vásquez to leave the presidency of the Council of Ministers and the president to announce a new cabinet.

Francke was grateful for the opportunity given to him by the Head of State during almost seven months of management.

I thank President Pedro Castillo for the opportunity he gave me to serve Peru in July 2021, in the midst of a situation marked by the pandemic and the need to recover economic dynamics and employment”, he expressed.


The now resigning Minister of Economy also He took the opportunity to list the actions that he considers were achievements of his management:

During these 7 months we did not deviate from our objective: we worked to reactivate the economy focused on achieving greater diversification with environmental sustainability, always with fiscal responsibility and in the fight against corruption.“, he pointed.

In addition, he pointed out that in his management they managed to approve an Lbudget law 2021 almost by consensus in Congress, and “powers legislative partial for tax and economic issues.

The macroeconomic figures support our work, a rapid recovery was achieved that allowed us to be the country with the highest growth (13%) in the region, we have a fiscal deficit of just 2.6% of GDP and a record public investment of S/39 billion”, he highlighted.

He added that they have also achieved “a 34% growth in private investment, exceeding pre-pandemic levels by more than 12% and reaching a record nominal level. The country risk of the lowest in the region”.

We managed to put the Tax Reform, state collective bargaining and the increase in the RMV on the public agenda, and we have been working on reforms to contribute to our accession to the OECD”, he added.

Finally he said trust that “the new administration will continue the reforms just begun, and that the new cabinet works committed to strengthening the fight against corruption, because there is no other way to build a better future but with integrity and professional work”.


Simultaneously, Pedro Francke’s letter of resignation addressed to Pedro Castillo was released in which he argued the same as he published on Twitter. He adds that he accepted the positionat a juncture marked by the aftermath of the terrible recession caused by the measures taken to curb COVID-19, due to the fear of investors after a very polarized campaign, and due to the decision of sectors of the right not to accept their defeat and embark on a coup campaign to bring down a legitimately elected government”.


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