The current president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, will continue at the helm of the monetary authority for a fifth consecutive term, after his meeting with President-elect Keiko Fujimori. In this way, he will remain at the head of the issuer for another five years, until 2031.
With this new stage, Velarde, 74, prolongs his career as the central banker with the most years in office on the American continent, a position he has held since then-president Alan García appointed him in September 2006.
Throughout his tenure, the head of Peruvian monetary policy has seen 10 presidents of the Republic come and go, as well as numerous prime ministers and heads of Economy. In the last ten years alone, Peru has had eight different heads of state.
"I want to thank [Fujimori] for having come to the BCRP personally, I feel honored by the request she has made of me. And, if in other circumstances I might not have accepted, I want to do so with great pleasure and I plan to dedicate myself as quickly as possible to fulfilling the task she is entrusting me with," Velarde stated in declarations to the press after the meeting with Fujimori.
"I did not expect such a quick response, but I am very pleased, Julio, with the clarity, firmness, and the way you have made this decision. It is great news for Peru," indicated, for her part, the future president.
On the international stage, Velarde has received various recognitions for his management of inflation. The specialized magazine 'The Banker', from the publishing group 'Financial Times', named him Central Banker of the Year in 2015 and Central Banker of the Americas in 2020.
Experts' Reaction
The director of the 'think tank' Peruvian Economic Institute (IPE) and member of the BCRP Board, Diego Macera, has celebrated Velarde's continuity, considering that his work has allowed for the "period of greatest monetary stability" in the country's history, despite "strong political volatility."
"We have had the lowest inflation among comparable countries and the greatest exchange rate stability, we have accumulated significant reserves, with management in favor of currency stability and preserving the value of the sol, which has been outstanding," Macera stated in words reported by the agency 'Andina'.