Luis Miguel Castilla

Dr. Castilla had served as Minister of Economy and Finance of Peru from July 2011 to September 2014 under the administration of President Ollanta Humala. During his tenure, he implemented major reforms to attract foreign direct investment to Peru, spur economic growth, reduce poverty and foster economic and social development. He promoted a series of second generation reforms in infrastructure public private partnerships, civil service, fiscal rules, pension system, capital market development, financial inclusion, taxation, government procurement and state modernization, among others. During the past 3 years, Peru’s credit ratings were upgraded by all major credit rating agencies (classified as the second highest investment rated country in Latin America). Prior to his appointment, Castilla held several positions at the Ministry of Economy and Finance, including Deputy Finance Minister and Chief of Staff. In addition, he has over fifteen year experience at multilateral development banks, holding senior positions at CAF -Development Bank of Latin America, among others.

Professional Experience

• Ministry of Economy and Finance, Lima, Peru
• Minister (July 2011-Sept. 2014)
  • Acting Minister of Foreign Affairs and Minister of Defense
  • President of Peru’s Private Investment Promotion Agency (Proinversion)
  • President of Peru’s State-owned Enterprises Conglomerate (Fonafe)
  • President of the National Competitiveness Council (CNC)
  • President of Peru’s Public Pension Wealth Fund (FCR)
  • President of Peru’s Fiscal Stabilization Fund (FEF)
  • Governor of the Republic of Peru at the World Bank Group, Inter American Development Bank, CAF-Development Bank of Latin America
  • Alternate Governor of the Republic of Peru at the International Monetary Fund
  • Board member of Peru’s State Oil Enterprise (Petroperu)
  • Board member of Peru’s Rural Telecommunication Fund (Fitel)
  • President of the Board, CAF-Development Bank of Latin America, 2012-2013
    • Awards:
      • Hipolito Unanue Award for Outstanding Economic Merit, Ministry of Economy and Finance of Peru, 2014
      • Best Finance Minister of Latin America Award, 2012 by Emerging Markets, America Economia and The Banker-Financial Times.
• Vice Minister of Finance (Jan. 2010-July 2011)
  • Board member of Peru’s National Bank (Banco de la Nacion)
  • Board member of Peru’s Development Financial Corporation (Cofide)
• Chief of Staff (Oct.-Dec. 2009)
• CAF, Development Bank of Latin America, Caracas, Venezuela
  • Chief Economist and Vice President of Public Policies and Competitiveness (2006-2009)
  • Acting Vice President of Development Strategies (2005)
  • Director of Economic Research (2003-2005)
  • Country Economist for Bolivia, Peru y Argentina (1996-2002)
• The World Bank Group, Washington DC
  • Middle East and North African Region, Office of the Chief Economist, Consultant (1996)
  • Latin America and the Caribbean Region, Country Analyst for Honduras (1994)
  • Private Investment Promotion Agency, Lima, Peru, Intern (1992)
  • Inter American Investment Corporation, Washington DC, Intern (1990, 1991)

Education

• PhD in Economics, Johns Hopkins University (2001)
• MA in Economics, Johns Hopkins University (1993)
• BA Honours in Economics, Mc Gill University (1991)

Teaching Experience

• Universidad del Pacífico, Lima, Peru, Lecturer, Intermediate Macroeconomics (2001-2)
• Johns Hopkins University, Summer Instructor, Macroeconomics (1993)
• Johns Hopkins University, Teaching Assistant, Macroeconomics, Economic Development (1992-1993)

Publications

Editor

• Caminos para el futuro: Gestión de la infraestructura en América Latina, 2009. Caracas: CAF.
• Oportunidades en América Latina: hacia una mejor política social, 2008. Caracas: CAF.
• Desafíos macroeconómicos y financieros en América Latina, 2007. Caracas: CAF.
• Camino a la transformación productiva en América Latina, 2006. Caracas: CAF.
• Políticas sectoriales en la región andina: lecciones y propuestas, 2005. Caracas: CAF.
• América Latina en el comercio global: ganando mercados, 2005. Caracas: CAF.
• Reflexiones para retomar el crecimiento, 2004. Caracas: CAF.
• Sostenibilidad fiscal en la región andina: políticas e instituciones, 2004. Caracas: CAF.
• Perspectivas: Análisis de temas críticos para el desarrollo sostenible, 2003-2008. Caracas: CAF.

Chapters in books

• “Latin America and East Asia trade strategies” in Growth and Development in Emerging Market Economies: International Private Capital Flows, Financial Markets and Globalization, ed. H. Kohli, 2008. London: Sage Publisher.
• “La agenda de competitividad en América Latina” in América Latina: Integración o fragmentación, ed. ITAM, Wilson Center for Scholars, Fondo de Cultura Económica, 2008.
• “Estrategias para la generación de oportunidades” (with P. Acosta and O. Manzano). Oportunidades en América Latina: hacia una mejor política social, 2007. Caracas: CAF.
• “Crédito doméstico al sector productivo: restricciones y vulnerabilidades del sistema financiero en América Latina” (with M. Hidalgo) in Desafíos macroeconómicos y financieros en América Latina, 2007. Caracas: CAF.
• “Estrategias de desarrollo productivo en América Latina” in Camino a la transformación productiva en América Latina, 2006. Caracas: CAF.
• “El rol de las políticas sectoriales en una estrategia de transformación productiva” (with O. Manzano) in Políticas de desarrollo sectorial en la región andina, 2005. Caracas: CAF.
• “Hacia una estrategia coherente de inserción internacional” in América Latina en el comercio global: ganando mercados, 2005. Caracas: CAF.
• “China: oportunidades y desafíos para América Latina” (with F. Ortega) in América Latina en el comercio global: ganando mercados, 2005. Caracas: CAF.
• “Hacia una mejor estrategia de desarrollo” in Reflexiones para retomar el crecimiento, 2004. Caracas: CAF.
• “Financiamiento y gobernabilidad” in Reflexiones para retomar el crecimiento, 2004. Caracas: CAF.
• “Hacia una mayor y mejor inserción de los países andinos en la economía global” in El futuro de la integración andina, ed. M. Cárdenas, 2004. FESCOL: Bogotá.
• “El reto de retomar la sostenibilidad fiscal en la región andina” (with O. Manzano) in Desafíos fiscales en la región andina, 2004. Caracas: CAF.
• “Instituciones y gobernabilidad” in Temas críticos para América Latina, 2002. Caracas: CAF.

Articles

• “The Coming of Age of Global Wealth Funds: Perspectives and Policy Issues Within and Beyond Borders” (with A. Arreaza y C. Fernandez), Global Journal of Emerging Market Economies, Vol.1, No. 1, January 2009.
• “Productive Transformation in Latin America”, Foreign Policy, July-August 2007.
• “El reto de la competitividad en América Latina” (with F. Jaramillo) in Perú Económico, 2002. Lima: Apoyo Comunicaciones.
• “Finance minister turnover and fiscal outcomes: new international evidence” 2000, Johns Hopkins University, mimeo.
• “Dollarization in Ecuador,” Public Policy Working Paper, 1999, CAF.
• “Education and Labor Markets in the Middle East and North Africa,” (with W. Van Eeghen), 1996, World Bank, mimeo.
• “Fiscal Deficits and Economic Growth,” 1993, Johns Hopkins University, mimeo.

Languages

• Bilingual in Spanish and English
• Intermediate French

Other

• World Economic Forum participant (2003 – 2014)
• Program on Global Crisis and Financial Reform, Harvard University (1999)
• Latin American and Caribbean Economic Association (LACEA) member, Program Committee (2007)
• Johns Hopkins University Fellowship (1991-1993)
• James McGill Award (1988-1990)

Personal

• Date of Birth: Oct 31 1968
• Peruvian citizen
• Widow, 2 daughters