The National Society of Industries (SNI) recognized Julio Velarde Flores, president of the Central Reserve Bank of Peru (BCRP), for his outstanding work in the preservation of macroeconomic stability and his leadership in the face of the main economic and social challenges that the country has faced in recent decades, such as the financial crisis of 2008 and the Covid-19 pandemic in 2020.
“When investors from all over the world analyze Peru, they often wonder how it is possible that, despite political chaos, the economy maintains its stability. The answer has a name and surname: Julio Velarde, ”said Felipe James Callao, president of the SNI during the ceremony held yesterday, January 30.
What career did Julio Velarde study?
Julio Velarde studied economy. He is Bachelor in Economics of the University of the Pacific, has a master’s degree and doctoral studies at Economics at Brown University, United States, and conducted advanced economy studies at the Kiel World Economy Institute, Germany.
BCRP maintains inflation in target range
“We are the country of Latin America that has had a single digit inflation, almost 29 years old, and in the covid, the reference rate fell almost to zero, being the lowest in Latin America, and I think that It can be achieved by credibility.
And it is that according to the latest report, the expectations of inflation to 12 months of economic analysts and the financial system remained in December 2024 in 2.45%, within the target range established between 1%and 3%. This result has been repeated for the third consecutive month, demonstrating the effectiveness of the policies implemented under their direction.
In addition, projections for 2025 and 2026 are also maintained within the target range, with estimates ranging between 2.40% and 2.65%. This achievement is especially significant if it is considered that, four years after the impacts of the pandemic and the recession of 2023, inflation returned to the target range, closing 2024 with a rate of 1.9% in Metropolitan Lima. Products such as Choclo, Olluco, Mango, Yellow Ají and Pope recorded the greatest price drops during the year, contributing to this stability.
Recently, in the 2025 World Economic Forum He said that for this year an inflation of 2%is expected, although at the end of the first quarter it probably approaches 1%.
“What we have achieved in these years is an increasingly professional central bank, that is extremely important, (…) to any politician, congressman, minister or president has never occurred to him to suggest a name to enter the Central Bank,” Velarde said yesterday.
Recognition of an impeccable trajectory
Julio Velarderecognized in various chronicles and reports such as an equanimous and firm banker at the head of the BCRP, is today identified as a public leader who has won the respect of business, citizenship and the international community. This recognition has been strengthened in a context in which Peru holds the longest period with a single digit inflation in Latin America.
“All of us who are present here can say, with gratitude and admiration, that we were lucky to live at the time when Julio Velarde is president of the Central Reserve Bank of Peru,” concluded the president of the SNI.
During the tribute ceremony, a semblance was presented in video in which Miguel Palomino, president of the Peruvian Institute of Economics (IPE), highlighted Velarde’s leadership at critical moments, such as the implementation of the reactive program, which supported the productive sector during the COVID-19 Pandemia. Likewise, Jorge Salas, representative of the IMF in Ecuador, highlighted the affection and respect that Velarde has reaped in the international financial field.
In addition to their professional achievements, their closest relatives highlighted their personal qualities, describing it as a warm person, great conversationalist, with a sense of humor, melómano, voracious reader and deeply committed to the challenges of the country, such as informality and poverty.
The tribute was attended by directors and former presidents of the National Society of Industries (SNI), trade union leaders, businessmen, members of the BCRP directory, as well as family and close friends of the honoree.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
