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Upcoming Peru Webinar: Reviewing the next government's policies
PERU · Report · 23 Jul 2021

Join us for our live Zoom Webinar on Thursday, July 29, 2021, as our Peru Political Analyst Dr. Alfredo Thorne discusses the new president's political and economic plans following the inauguration.

Castillo confirmed as president, as nation awaits July 28th speech
PERU · Report · 19 Jul 2021

On July 21st, more than a month after the June 6th second round of the presidential election, the Jurado Nacional de Elecciones (JNE, the National Election Tribunal) is due to announce that Pedro Castillo Terrones of the Perú Libre party has won the election, and will become Peru’s 63rd president...

Victor likely to have a weak mandate
PERU · Report · 14 Jun 2021

Most commentators expected a close result in the June 6th presidential election second-round runoff between Keiko Fujimori of Fuerza Popular and Pedro Castillo of Perú Libre. But few foresaw the razor’s-edge margin that would ultimately mean that the Jurado Nacional de Elecciones (JNE, the Electo...

Election contest tightens; economy surprises on the upside
PERU · Report · 18 May 2021

Less than three weeks before Election Day on June 6th, the second-round runoff between presidential candidates Keiko Fujimori and Pedro Castillo has turned tight. Most opinion polls published over the last four weeks confirm that Castillo has lost much of the strong lead he held at the start of t...

A breathless run-off presidential election
PERU · Forecast · 19 Apr 2021

Without a doubt, the results of the April 11th first-round presidential and congressional elections were surprising. Few had expected an outsider to emerge two weeks ahead of Election Day, and to win by a landslide. The official count by the Oficina Nacional de Procesos Electorales (ONPE, respons...

Election race is polarized, while recovery temporarily pauses
PERU · Report · 16 Mar 2021 · 2 responses

The presidential race has grown polarized, according to the most recent opinion polls. Although this is a surprise, in our January Forecast we suggested that this could happen during the last leg of the campaign. We described three possible scenarios: first, a strong winner emerging (with George...

Downbeat near term, but vaccine rollout offers upside
PERU · Report · 19 Feb 2021

Less than two months before Election Day on April 11th, calling the results remains challenging. Although 16 political parties successfully registered their candidates on time for the presidential and congressional elections, the Jurado Nacional de Elecciones (JNE, the National Election Tribunal)...

Elections and second infection wave are key risks to outlook
PERU · Forecast · 19 Jan 2021

The Jurado Nacional de Elecciones last week approved 18 out of 23 registered political parties that had submitted candidate slates for the April 11th presidential and congressional elections. The number of participants may change, either because some of the rejected parties successfully appeal th...

Economy rebounds despite political headwinds
PERU · Report · 16 Dec 2020

A month after the mid-November political crisis that led to street protests and the election of the caretaker Francisco Sagasti government, an uneasy truce has held in Congress. While political brinkmanship has continued, confrontation has eased. We will first discuss the positive developments, a...

Peru: Turning more optimistic on economic performance
PERU · In Brief · 27 Nov 2020

With more information following the swearing-in of President Francisco Sagasti and his first announcements, we have decide to revised up our forecast. We are raising our real GDP growth forecast to -12.4%y/y in 2020 from a previous of -13.9%y/y discussed in our latest GSP report; and to 9.7%y/y f...

Francisco Sagasti to swear-in as new president
PERU · In Brief · 17 Nov 2020

Last night and after a tense weekend, Congress decided to elect Francisco Sagasti from the Purple Party as its new head and Ms. Mirtha Vásquez, from the leftist Frente Amplio Party as the vice-president. With former president Manuel Merino resigning as a result of the street protests, Mr. Sagasti...

Political brinkmanship (with updated political information)
PERU · Report · 16 Nov 2020

Political brinkmanship has been the focus since March, when the election of a new Congress resulted in an open confrontation between a Congress that wanted to pass populist legislation, and former president Martin Vizcarra, who faced bribery accusations. This led to Vizcarra’s November 9th impeac...

President Vizcarra is ousted
PERU · In Brief · 09 Nov 2020 · 2 responses

After a tense impeachment process that started on the morning of November 9, Congress voted by 105 votes, 19 against and 4 abstained, to oust President Martin Vizcarra. President Vizcarra was investigated by the Attorney General Office for corruption while he was Moquegua’s Governor, a small Stat...

Shallower recession in 2020, and stronger rebound in 2021
PERU · Forecast · 19 Oct 2020

We tweaked our forecasts last week, on the back of the most recent reports. We now expect a shallower recession in 2020, with real GDP contracting by 13.7% y/y, less than our July forecast of -17% y/y. We also forecast a stronger rebound in 2021, reaching 11.1% y/y (from 6.5% y/y previously). The...

Political crisis will impact the economy
PERU · Report · 17 Sep 2020

Politics was again at center stage this month, first with Congress’s interpellation of Finance Minister María Antonieta Alva, and then the proposed impeachment of President Martín Vizcarra. Since the election of Pedro Pablo Kuczynski to the presidency in 2016, there has been a power struggle betw...