Peru chooses its next president this Sunday (7) in an election marked by balance between the two finalists and concern about the country’s political and economic direction. The most recent polls indicate a technical tie between right-wing candidate Keiko Fujimori and left-wing Roberto Sánchez.
An Ipsos survey shows Sánchez with 43.8% of voting intentions, while Fujimori appears with 43.2%. Another 13% of voters say they intend to vote blank or cancel their vote, a percentage that could be decisive in a tight race.
The result is closely monitored by investors. On Friday (5), the Lima stock exchange fell more than 4% after surveys indicated a slight advantage for Sánchez, reflecting uncertainties about possible changes in the conduct of economic policy.
Economy dominates final stretch of campaign
The mining sector became one of the main themes of the election. Responsible for around 12% of the Peruvian Gross Domestic Product, the segment is at the center of market concerns.
One of the discussions involves the REINFO program, a mechanism that allows informal miners to operate while regularizing their activities. It is estimated that around 500,000 workers are linked to the sector, which accounts for approximately half of the country’s gold exports.
In recent days, Sánchez has sought to reduce investor fears. The candidate stated that he intends to preserve the independence of the Central Bank, keep the economy open and adopt a pragmatic relationship with the United States.
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Country tries to end cycle of instability
The election comes after years of institutional turmoil. Since 2016, Peru has had eight presidents, the result of a sequence of impeachments, resignations and transition governments.
This history has made governability one of voters’ main concerns. The elected president will take office on July 28 and will need to negotiate with a fragmented Congress, a scenario that has hampered the country’s political stability.
Keiko Fujimori is running for his fourth presidential election. Daughter of former president Alberto Fujimori, she focuses her campaign on proposals aimed at public security, combating crime and maintaining the economic model that marked Peruvian growth in recent decades.
