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DG Economics, Statistics and Research

Directors General

The current Director General Economics, Statistics and Research is Ángel Gavilán and the Associate Director General is Carlos Thomas


  • Structural Analysis and Microeconomic Studies Director: Olympia Bover
  • Macro-financial Analysis and Monetary PolicyDirector: Roberto Blanco
  • Economic DevelopmentsDirector: Enrique Moral
  • International Economics and Euro AreaDirector: Javier Pérez García
  • StatisticsDirector: Juan PeñalosaDeputy Director: Julia Suárez
  • International and European RelationsDirector: Paloma Marín


The Directorate General Economics, Statistics and Research is responsible for:

  • Conducting studies and research on economic and financial matters related to the Spanish, European and international economy.
  • Compiling, analysing and disseminating the statistics entrusted to the Banco de España.
  • Drafting the Annual Report and other reports and publications on the areas within its remit, and taking the steps necessary to disseminate analysis of the economic situation and monetary policy.
  • Conducting the preparatory, advisory and monitoring work relating to the Banco de España’s participation in European institutions, its competencies and, in particular, the meetings of the Governing Council and General Council of the European Central Bank and the Economic and Financial Committee of the European Union.
  • Developing and managing the Banco de España’s international relations outside the scope of European institutions and with the main international organisations and multilateral institutions, including in particular monitoring and analysing the International Monetary Fund’s activities.
  • Coordinating the Banco de España’s international cooperation (including technical assistance) with other national central banks, financial supervisors and other similar public agencies.
  • Studying and monitoring the political, economic and solvency-related developments in material countries in terms of the financial risk assumed by Spanish banks, in step with its regulatory function in respect of country-risk provisions.
  • Managing the Banco de España Library.